According to a March 9 Fox Business report, the next salvo in Uncle Sam’s war on crypto could be a massive class action lawsuit filed on behalf of retail investors against top exchanges.
The outlet reported that leading securities lawyer Tom Grady is preparing for potential litigation against America’s largest crypto companies, including Coinbase, Robinhood, and Kraken.
The allegation is the same old story that the Securities and Exchange Commission keeps repeating – illegal sales of unregistered securities. In a press release shared with the outlet, Grady stated:
“We believe Coinbase, Robinhood, and other exchanges have violated the law, and investors who lost money purchasing cryptocurrencies on their platforms may be entitled to recover those losses.”
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