Coinbase Customers Revive Lawsuit Over Crypto Sales Practices

• Appeals court revives lawsuit by Coinbase customers accusing exchange of illegally selling unregistered securities and operating as unregistered broker-dealer • Court said lower court shouldn't have relied on Dec 2021 user agreement to dismiss case • Customers argued they never accepted that agreement version • Some Securities Exchange Act claims seeking to rescind transactions were dismissed • Case returned to district judge in Manhattan after being dismissed in Feb 2023