The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton
The justices, in a 5-4 decision, overturned a lower court's ruling involving a user who sued after a scammer stole money from his account. The lower court had let a proposed class action lawsuit proceed while Coinbase pressed its appeal contending that the claims belong in arbitration. The justices dismissed a second case that Coinbase had asked it to review.
Coinbase's exchange allows users to transact in digital currencies such as bitcoin and ether. The company 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 halt when a denial of a request to compel arbitration is appealed.
One of the cases involved a California lawsuit by customer Abraham Bielski, who alleged that a scammer stole more than $30,000 from his Coinbase account in 2021. The suit accused the company of violating the Electronic Funds Transfer Act by not investigating or recrediting Bielski's account.
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:
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Francisco-based Coinbase Global Inc wins at Supreme Court as ruling reinforces arbitrationThe justices, voting 5-4, ruled that lawsuits filed in federal court must be put on hold while a defendant presses an appeal that would send the case to arbitration.
Source: mercnews - 🏆 88. / 68 Read more »
Coinbase Wins Supreme Court Ruling in Arbitration Lawsuit.Coinbase has won its U.S. Supreme court fight over legal arbitration, which doesn't mean much for the crypto sector specifically, but could have wide implications for legal disputes with corporations. nikhileshde reports
Source: CoinDesk - 🏆 291. / 63 Read more »
Coinbase celebrates win at US Supreme Court over arbitrationThe U.S. Supreme Court ruled with Coinbase Global Inc., bolstering the exchange’s ability to go through arbitration when dealing with customer disputes.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Supreme Court rules against Navajo Nation in water rights disputeNEW: Supreme Court rules against Navajo Nation over claims that the federal government left tribe members on arid lands and desperate for water access.
Source: NBCNews - 🏆 10. / 86 Read more »
Supreme Court rules against Navajo Nation in Colorado River water rights caseThe Supreme Court ruled against the Navajo Nation on Thursday in a dispute involving water from the drought-stricken Colorado River.
Source: wsfa12news - 🏆 338. / 59 Read more »
Supreme Court rules against Navajo Nation in Colorado River water rights caseThe Supreme Court has ruled against the Navajo Nation in a dispute involving water from the drought-stricken Colorado River. States that draw water from the river — Arizona, Nevada and Colorado — and water districts in California had urged the court to decide for them, and that's what the justices did in a 5-4 ruling. Colorado had argued that siding with the Navajo Nation would undermine existing agreements and disrupt the management of the river. The Biden administration said that if the court were to come down in favor of the Navajo Nation, the federal government could face lawsuits from many other tribes.
Source: AP - 🏆 728. / 51 Read more »