Cryptocurrency exchange COINBASE was today sued in California federal called for selling XRP alleged to be security token as per latest SEC lawsuit against Ripple. Coinbase is sued for taking commission from XRP sales and violating state unfair competition laws.
Coinbase Sued Over “illegal” XRP Sales
Just few weeks after SEC filed a $1.3 Billion lawsuit against Ripple, a federal court in California has received a complaint against Coinbase for selling XRP alleged to be security token.
New one count California federal court lawsuit alleges Coinbase violated state unfair competition laws by selling XRP, alleged to be an unregistered security, and taking commissions from the sale. pic.twitter.com/BpMZO1ulcC
— Palley (@stephendpalley) December 30, 2020
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