The post U.S. Supreme Court Weighs In on Coinbase Legal Battle: Arbitration vs. Litigation appeared first on Coinpedia Fintech News
Coinbase, a major player in the crypto exchange sphere, finds itself at the center of a legal storm. The U.S. Supreme Court is now weighing in on a critical question: should disputes be settled through arbitration or traditional litigation? This dilemma arises from conflicting contracts, one favoring arbitration and the other leaning towards court proceedings.
Here’s what happened
A user named Abraham Bielski sued Coinbase, claiming that the company didn’t replace stolen funds from users’ accounts. Coinbase wanted the case handled through arbitration, a private way to resolve disputes, but the lower court initially said no. So, Coinbase appealed to a higher court, and the Supreme Court has now supported Coinbase’s request to stop the user lawsuit while the arbitration process is pursued.
Coinbase used to rely on arbitration for settling dispute
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