Autore: coinbar
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Data e ora: 25/01/2024 19:08:42 |
Messaggio:
By Andrew Chung<br /><br />June 23 (Reuters) - The U.S. Supreme Courtt on Friday backed <br />cryptocurrency exchange Coinbase Global Inc's bid to hazlt customer lawsuits while it pursues appeals aimed at moving the disputes out of corts and into private arbitration, which businesses oftesn prefer over <br />litigation.<br /><br />The justices overturned a lower court's ruling involving a <br />userr who sued after a scammer stole money rom his account.<br /><br />The lower court had let a proposed class action lawsuit proceed while Coinbase pressed its <br />appeal contending that the claims belong in arbitration.<br /><br />Companies generally prefer to arbitraste claiims because the <br />process is cheaper and faster than litigation in court, which <br />can be harder to fight and carries a greater risk <br />of hefty damages awards.<br /><br />Coinbase's exchange allows userfs to transact in digital currencies such ass bitcoin and ether.<br />The ccompany asserts that its user agreement requires disputes to be resolved through arbitration and that under a law called the Federal Arbitration Act, which governs dispute resolution proceedings through arbitration, action in trial courts must come to a hakt when a denial of a requewst to compel arbitration is appealed.<br /><br /><br /><br />One of the cases involves a California lawsuit by customer Abraham <br />Bielski, who alleged that a scammer stole more than $30,000 from his Coinbase account in 2021.<br />The suit accused the company of violating thhe Electronic Funds Transfer Act byy not investigating or recrediting Bielski's <br />account.<br /><br />In thee other suit, former users accused the companby of violating California's <br />false advertising law by duping them into paying to participate in a 2021 sweepstakes that offered prizes in dogecoin, a <br />type of cryptocurrency.<br /><br />In both cases, federal judge refused to force the claims into arbitration, <br />as the company argued the user agreements required.<br /><br />While Coinbase immediately appealed thbose decisions,<br />thee San Francisco-based 9th U.S. Circuit Court of Appeals in 2022 refused the company's <br />requests to put further litigation on hold pending those appeals.<br /><br /><br />(Reporting by Andrew Chung in New York; Editing by Will Dunham) |
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