The US Securities and Exchange Commission can proceed with its lawsuit against Coinbase that the company failed to register as a securities business, a federal judge in Manhattan ruled on Wednesday. The decision is a blow to Coinbase and other cryptocurrency players who have argued the SEC has no power to regulate them because they don’t traffic in “securities” that have to be registered. Shares of Coinbase were down 1.3% after falling close to 4% in earlier trading. Coinbase engages in the “unregistered sale and offer of securities” under US law and operates as an exchange, a broker and a clearing agency for ... (full story)