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Coinbase will not get out from under the lawsuit filed by the U.S. regulator SEC against the crypto exchange. A judge finds the accusation that Coinbase operates as an unregistered broker at least "plausible.

Judge Katherine Polk Failla of the District Court for the Southern District of New York has ruled that the lawsuit can proceed. By April 19, SEC and Coinbase must agree on proceedings.

The SEC sued Coinbase last year, alleging that the company is violating federal securities laws by making unlicensed crypto services available to the general public. Further, the Coinbase Wallet would act as an unregistered brokerage. Incidentally, the judge is not going to address this last objection.

News of the case immediately affected Bitcoin's share price. A similar case backfired on competitor Binance, which was fined $4.3 billion.

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