Coinbase sued for selling XRP

Noting that Coinbase is not licensed to sell securities, the suit called Coinbase’s sale of XRP “unlawful” and “fraudulent,” claiming that “Coinbase falsely represented that XRP was a commodity when… Defendant knew it was a security.” It also said that selling XRP was “unfair” as it gave Coinbase “an unwarranted competitive advantage over digital asset exchanges that only sold commodities.”