"SEC Prevails as Court Rules Against Coinbase in Crypto Lawsuit"

A federal judge ruled against most of Coinbase's motion to dismiss the SEC lawsuit, finding that the regulatory agency had a "plausible" case against the exchange for operating as an unregistered broker, exchange, and clearinghouse. While dismissing claims that Coinbase was acting as a brokerage, the judge allowed other aspects of the suit to proceed, setting an April 19 deadline for the parties to agree on a case scheduling plan. The outcome of this case, along with others, may define how the crypto industry can operate in the U.S., potentially imposing new restrictions and disclosure regulations on trading platforms and limiting the number of tokens available to retail investors.