According to FOX Business reports, Tom Grady, a well-known securities lawyer specializing in investment fraud cases, is preparing to file a class action against the US exchanges encryption Coinbase, Robinhood, Kraken, and other companies. Grady said he launched an investigation into the exchange’s operations and its possible violations. Grady said the exchange may have misled investors by failing to provide them with improper disclosure about the risks of trading and owning unregistered cryptocurrencies.The SEC method of digital coins that the vast majority of digital coins are used for pure speculation or to conduct illegal activities such as drug sales and money laundering and that they are disconnected from the underlying blockchain technology, transacting business that is still in its early stages and is intended to provide consumers with a cheaper, safer, and more efficient payment system.