聯邦上訴法院恢復針對 Coinbase 涉嫌證券違規的集體訴訟

聯邦上訴法院重新啟動了針對美國最大加密貨幣交易所 Coinbase 的訴訟，該訴訟由客戶提起，指控該公司出售未註冊的證券且未能註冊為經紀自營商。法院裁定，下級法院法官不應依據使用者協議駁回案件，因為該協議隨著時間的推移發生了重大變化，並且並未被所有客戶接受。

Federal Appeals Court Revives Class-Action Lawsuit Against Coinbase for Alleged Securities Violations

聯邦上訴法院重啟針對 Coinbase 涉嫌證券違規的集體訴訟

New York, USA - In a significant development, the 2nd U.S. Circuit Court of Appeals has revived a class-action lawsuit filed by Coinbase customers, overturning a lower court ruling that had dismissed their claims. The lawsuit alleges that Coinbase, the largest cryptocurrency exchange in the United States, illegally sold unregistered securities and failed to register as a broker-dealer.

美國紐約 - 一項重大進展是，美國第二巡迴上訴法院恢復了 Coinbase 客戶提起的集體訴訟，推翻了下級法院駁回其索賠的裁決。該訴訟指控美國最大的加密貨幣交易所 Coinbase 非法出售未註冊的證券，並且未能註冊為經紀自營商。

The appeals court's unanimous 3-0 decision overturned the dismissal order issued by U.S. District Judge Paul Engelmayer in February 2023. Engelmayer had ruled that Coinbase was not liable because it did not hold title to or sell the disputed tokens. However, the appeals court found that the district court had placed undue reliance on a user agreement adopted by Coinbase in December 2021.

上訴法院以 3 比 0 的一致裁決推翻了美國地區法官 Paul Engelmayer 於 2023 年 2 月發布的駁回令。Engelmayer 裁定 Coinbase 不承擔責任，因為它不擁有爭議代幣的所有權或出售爭議代幣。然而，上訴法院發現地方法院過度依賴 Coinbase 於 2021 年 12 月通過的用戶協議。

"The district court found that Coinbase was not a seller because the December 2021 user agreement stated that Coinbase did not hold title to or sell the digital assets," the appeals court wrote in its opinion. "However, the district court erred by relying on the December 2021 user agreement without considering the prior user agreements that Coinbase had in place."

上訴法院在其意見中寫道：“地區法院認定 Coinbase 不是賣家，因為 2021 年 12 月的用戶協議表明 Coinbase 不擁有數位資產的所有權或出售數位資產。” “然而，地方法院錯誤地依賴 2021 年 12 月的用戶協議，而沒有考慮 Coinbase 之前製定的用戶協議。”

The appeals court pointed out that Coinbase had made material changes to its user agreements over time and that the December 2021 version was not determinative of the company's liability. The court also noted that the plaintiffs had alleged that they never agreed to the December 2021 user agreement, rendering it irrelevant in the context of the case.

上訴法院指出，Coinbase 隨著時間的推移對其用戶協議進行了重大修改，2021 年 12 月的版本並不能決定該公司的責任。法院也指出，原告聲稱他們從未同意 2021 年 12 月的使用者協議，因此該協議與本案無關。

The decision by the appeals court allows the class-action lawsuit to proceed, with the case being remanded back to Judge Engelmayer for further proceedings. The plaintiffs, represented by Jordan Goldstein, have expressed gratitude for the decision and intend to pursue their case against Coinbase and its CEO, Brian Armstrong.

上訴法院的裁決允許集體訴訟繼續進行，並將案件發回恩格爾邁耶法官進行進一步審理。以喬丹·戈德斯坦為代表的原告對這一決定表示感謝，並打算對 Coinbase 及其首席執行官布萊恩·阿姆斯特朗提起訴訟。

Meanwhile, Coinbase's chief legal officer, Paul Grewal, welcomed the dismissal of some claims in the lawsuit, particularly those seeking to rescind customer transactions under the Securities Exchange Act. Grewal emphasized the importance of contracts in the digital asset market and the need for clear rules governing the trading of such assets.

同時，Coinbase 首席法律長 Paul Grewal 對訴訟中的一些索賠被駁回表示歡迎，特別是那些尋求根據《證券交易法》撤銷客戶交易的索賠。 Grewal 強調了合約在數位資產市場中的重要性以及管理此類資產交易的明確規則的必要性。

The latest development comes amidst a broader regulatory crackdown on cryptocurrency companies in the United States. Just recently, U.S. District Judge Katherine Polk Failla denied Coinbase's motion to dismiss a separate lawsuit filed by the Securities and Exchange Commission (SEC). The SEC alleged that Coinbase improperly facilitated the trading of unregistered securities in the form of certain tokens.

這項最新進展正值美國對加密貨幣公司進行更廣泛的監管打壓之際。就在最近，美國地區法官 Katherine Polk Failla 駁回了 Coinbase 駁回美國證券交易委員會 (SEC) 提起的另一項訴訟的動議。 SEC 指控 Coinbase 以某些代幣的形式不當推廣未註冊證券的交易。

The revived class-action lawsuit against Coinbase is a significant milestone in the ongoing legal battle over the regulation of cryptocurrencies. The outcome of the case could have far-reaching implications for the cryptocurrency industry and the rights of investors in this emerging market.

針對 Coinbase 的集體訴訟重新啟動，是正在進行的加密貨幣監管法律鬥爭中的一個重要里程碑。該案的結果可能對加密貨幣產業以及這個新興市場投資者的權利產生深遠的影響。