The largest crypto exchange in the U.S, Coinbase has been hit with a class action lawsuit over receiving commissions from illicit XRP sales. Ripple was recently sued by the Securities and Exchange Commission (SEC) for allegedly issuing XRP as an unregistered securities offering.
The new class-action suit was filed by Thomas Sandoval, alleges that the number one U.S. cryptocurrency exchange knew that XRP was a security under federal securities laws but chose to continue to offer the token to its customers and charge commissions from trades.
Coinbase said they will delist XRP next month.
Read more:
- The SEC Will Keep An Eye On Many Of These Altcoins Beyond Ripple (XRP) In 2021
- Coinbase And OKcoin Will Suspend XRP Trading By Next Month