Popular US-based cryptocurrency exchange Coinbase has opened the way for client cases to be arbitrated.
Coinbase emerged victorious from the US Supreme Court. According to the news presented by Reuters US Supreme Court paved the way for Coinbase’s client cases to be brought to arbitration. The lawsuit in question came from a scammer’s Coinbase account. from $30,000 It started after he stole a lot of money.
Supreme Court justices upheld the decision by a 5-4 vote. Coinbase thanks to case moved to arbitration from the heavy burden of paying will be saved and the process is faster will progress.
Abraham Bielski from a Coinbase account More than $30,000 sued for theft. After the court decision, Coinbase will be able to bring this case to arbitration and will be protected from possible high compensation to a point.
Coinbase Chief Legal Officer Paul Grewal In his statement on the subject on social media, he made the following statements:
We are grateful to the Supreme Court for its careful review. Another example of why I believe in the US court system. The rule of law is sometimes slow and sometimes disappointing. But it remains our last and best hope in an imperfect democracy.
arbitration in lawIn case of disagreement, the parties usually act impartially rather than litigating. third party is a remedy they choose to apply to an arbitrator.
Arbitration is generally preferred because it is faster and less costly. In addition, the disputes of the parties out of court solving, which is usually a more confidential process.