US Supreme Court takes up Coinbase arbitration dispute

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

WASHINGTON: The US Supreme Court on Friday (Nov 3) agreed to hear a dispute over Coinbase's effort to move a dispute with users of the cryptocurrency exchange out of courts and into private arbitration.

The justices took up Coinbase's appeal of a lower court's ruling that the trading platform had effectively waived its right to arbitrate a dispute stemming from a 2021 sweepstakes that users later alleged was false advertising.

At issue in the case is whether it is up to a judge or an arbitrator to decide which of two apparently conflicting agreements is controlling in the dispute between Coinbase and its aggrieved users. The decision about which contract prevails, in turn, would determine if the dispute proceeds in arbitration or in court.

When users later accused the company of violating California's false advertising law by duping them into paying to participate in a sweepstakes that offered prizes in dogecoin, a type of cryptocurrency, they brought a class action suit in federal court.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in COİN

Coin Coin Latest News, Coin Coin Headlines