U.S. Court of Appeals Remands Dismissal of Coinbase Class Action Lawsuit

The U.S. Court of Appeals for the Second Circuit has remanded a trial court's dismissal of a class action lawsuit against Coinbase, Cointelegraph reports. Coinbase was originally sued in March 2022 for allegedly selling 79 tokens to customers that were unregistered securities. The trial court dismissed the case in March last year, saying the plaintiffs failed to prove that Coinbase was the direct seller or owner of the tokens. The appeals court affirmed the trial court's dismissal, but remanded the case, saying the court erred in citing an older version of Coinbase's user agreement.