"Coinbase's Legal Battle with US Securities Regulator"

A federal judge in Manhattan allowed the U.S. securities regulator's lawsuit against Coinbase to proceed, partially granting the company's motion to dismiss the lawsuit. The SEC sued Coinbase in June, alleging that the firm facilitated trading of at least 13 crypto tokens that should have been registered as securities and was operating illegally as a national securities exchange, broker, and clearing agency without registering with the regulator. The decision is a partial win for Coinbase, but largely supports the SEC's approach to cryptocurrency, agreeing with other judges who have sided with the regulator.