Breaking: Coinbase Loses Supreme Court Case Over Dogecoin Dispute
Release: 2024/05/24 00:14 Reading: 818
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=198419
Home / News / Breaking: Coinbase Loses Supreme Court Case Over Dogecoin Dispute
Breaking: Coinbase Loses Supreme Court Case Over Dogecoin Dispute
The US Supreme Court has ruled against crypto exchange Coinbase, stating that the exchange cannot force users into arbitration related to a Dogecoin sweepstakes.
By
Varinder Singh
9 mins ago
Highlights
- Coinbase has lost its 2021 Dogecoin sweepstakes case, with the Supreme Court ruling against the exchange's arguments.
- Justice Ketanji Brown Jackson dismissed a warning by the exchange that a ruling against it would lead to legal turmoil.
- Coinbase users argued that they were forced to pay $100 to enter a giveaway related to Dogecoin in 2021.
In a landmark decision on May 23, the U.S. Supreme Court has ruled against crypto exchange Coinbase regarding a dispute related to a $1.2 million Dogecoin sweepstakes held in 2021. The Supreme Court stated that a California court had correctly exercised its authority to determine whether Coinbase could compel users into arbitration.
Supreme Court Deals Coinbase a Loss
In a ruling delivered on May 23 by Justice Ketanji Brown Jackson, the Supreme Court held that a court, not an arbitrator, must decide which contract governs arbitration. The Supreme Court also rejected Coinbase's warning that a ruling against it would create legal uncertainty, as reported by Bloomberg Law.
The opinion in Coinbase v. Suski emphasized that arbitration is a matter of "contract and consent" and that when there are disputes over competing contracts, a court must determine the primary agreement between the parties.
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