The U.S. Supreme Court ruled with Coinbase Global Inc., bolstering the exchange’s ability to go through arbitration when dealing with customer disputes.
that Coinbase “failed to replace funds fraudulently taken from the users’ accounts.”Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Coinbase celebrated a victory at the U.S. Supreme court on Friday, even if it wasn't directly related to the broader dispute it's been embroiled in with regulators in the country.
The court sided with Coinbase in a 5-4 vote, bolstering the exchange’s ability to go through arbitration when dealing with customer disputes.This ruling came after Abraham Bielski filed a class action suit in the U.S. District Court for the Northern District of California, alleging that Coinbase “failed to replace funds fraudulently taken from the users’ accounts,” according to the opinion.
“The sole question before this Court is whether a district court must stay its proceedings while the interlocutory appeal on arbitrability is ongoing. The answer is yes,” the justices said.Justice Ketanji Brown Jackson filed the dissenting opinion and said the decision has “significant implications for federal litigation."
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