Coinbase is set to face a class-action lawsuit after a federal judge in Manhattan ruled that the exchange must address allegations of selling 79 tokens as unregistered securities. This ruling, which revives a case previously dismissed, could have significant implications for how cryptocurrency assets are classified in the United States. The lawsuit claims that Coinbase operated without the necessary broker-dealer registration, allowing it to list tokens without adhering to the disclosure requirements typically mandated for securities. The judge's decision indicates that customers traded directly through the Coinbase platform, reinforcing the legal argument against the exchange's operations.