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| Today law suit on crypto coin | The Supreme Court ruling doesn't touch on crypto issues beyond the fact that Coinbase is one of the two parties involved. Coinbase lost an appeal of that ruling as well. A key test is whether people are contracting to invest in a common enterprise with the expectation of profit. The ruling, which won a majority, allows Coinbase to continue its effort to compel arbitration against the putative class action lawsuit, halting the lawsuit's progress through the federal court system in the meantime. Coinbase argued against classifying cryptocurrencies as securities by saying that the digital coins are like Beanie Babies, more akin to collectibles than stakes in a company. A federal appeals court has refused to stay both cases at the district court level while the crypto firm seeks to reverse orders denying it the right to arbitrate the disputes. |
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| 48299 bitcoins | Coinbase argued against classifying cryptocurrencies as securities by saying that the digital coins are like Beanie Babies, more akin to collectibles than stakes in a company. Nikhilesh De is CoinDesk's managing editor for global policy and regulation. Please note that our privacy policy , terms of use , cookies , and do not sell my personal information has been updated. In the other lawsuit taken up by the high court on Friday, Coinbase customers sued the company in California district court claiming that Coinbase's promotion of a Dogecoin sweepstakes in June violate state law. Ken is a national writer on banking and consumer issues. Coinbase lost an appeal of that ruling as well. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. |
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