Coinbase, the leading cryptocurrency exchange, is facing a fresh wave of legal trouble. A class-action lawsuit filed by customers alleges the company misled them by selling unregistered securities.

The lawsuit claims Coinbase operates like a "securities broker" yet fails to register certain digital assets it offers as securities. This alleged discrepancy violates state laws, according to the plaintiffs.

The suit specifically targets Algorand, Decentraland, Polygon, Near Protocol, Uniswap, and Solana – all listed on Coinbase – as unregistered securities.

Furthermore, the lawsuit accuses Coinbase of deceptive marketing practices. By downplaying the securities classification, the company allegedly pressured users into buying these assets.

Coinbase, however, maintains its innocence. A spokesperson dismissed the claims as "legally baseless" and expressed confidence in the legal system.

This isn't Coinbase's first rodeo with regulators. The SEC previously charged the exchange with offering unregistered securities through its staking program. Coinbase is currently appealing that lawsuit.

The battle lines are drawn. This customer lawsuit adds another layer of complexity to Coinbase's legal woes. Only time will tell if the exchange can navigate these choppy waters and keep its users afloat.