联邦上诉法院恢复针对 Coinbase 涉嫌证券违规的集体诉讼

联邦上诉法院重新启动了针对美国最大加密货币交易所 Coinbase 的诉讼，该诉讼由客户提起，指控该公司出售未注册的证券且未能注册为经纪自营商。法院裁定，下级法院法官不应依据用户协议驳回案件，因为该协议随着时间的推移发生了重大变化，并且并未被所有客户接受。

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

联邦上诉法院重启针对 Coinbase 涉嫌证券违规的集体诉讼

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.

美国纽约 - 一项重大进展是，美国第二巡回上诉法院恢复了 Coinbase 客户提起的集体诉讼，推翻了下级法院驳回其索赔的裁决。该诉讼指控美国最大的加密货币交易所 Coinbase 非法出售未注册的证券，并且未能注册为经纪自营商。

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.

上诉法院以 3 比 0 的一致裁决推翻了美国地区法官 Paul Engelmayer 于 2023 年 2 月发布的驳回令。Engelmayer 裁定 Coinbase 不承担责任，因为它不拥有争议代币的所有权或出售争议代币。然而，上诉法院发现地方法院过分依赖 Coinbase 于 2021 年 12 月通过的用户协议。

"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."

上诉法院在其意见中写道：“地区法院认定 Coinbase 不是卖家，因为 2021 年 12 月的用户协议表明 Coinbase 不拥有数字资产的所有权或出售数字资产。” “然而，地方法院错误地依赖 2021 年 12 月的用户协议，而没有考虑 Coinbase 之前制定的用户协议。”

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.

上诉法院指出，Coinbase 随着时间的推移对其用户协议进行了重大修改，2021 年 12 月的版本并不能决定该公司的责任。法院还指出，原告声称他们从未同意 2021 年 12 月的用户协议，因此该协议与本案无关。

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.

上诉法院的裁决允许集体诉讼继续进行，并将案件发回恩格尔迈耶法官进行进一步审理。以乔丹·戈德斯坦为代表的原告对这一决定表示感谢，并打算对 Coinbase 及其首席执行官布莱恩·阿姆斯特朗提起诉讼。

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.

与此同时，Coinbase 首席法律官 Paul Grewal 对诉讼中的一些索赔被驳回表示欢迎，特别是那些寻求根据《证券交易法》撤销客户交易的索赔。 Grewal 强调了合约在数字资产市场中的重要性以及管理此类资产交易的明确规则的必要性。

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.

这一最新进展正值美国对加密货币公司进行更广泛的监管打压之际。就在最近，美国地区法官 Katherine Polk Failla 驳回了 Coinbase 驳回美国证券交易委员会 (SEC) 提起的另一项诉讼的动议。 SEC 指控 Coinbase 以某些代币的形式不当促进未注册证券的交易。

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.

针对 Coinbase 的集体诉讼重新启动，是正在进行的加密货币监管法律斗争中的一个重要里程碑。该案的结果可能对加密货币行业以及这个新兴市场投资者的权利产生深远的影响。