JUST IN: Coinbase Gets A Defeat In Dogecoin Lawsuit
Release: 2024/05/23 22:24 Reading: 757
Landmark Ruling: US Supreme Court Sides Against Coinbase in Dogecoin Giveaway Dispute
In a groundbreaking decision, the US Supreme Court has ruled against cryptocurrency exchange Coinbase in a dispute stemming from a 2021 Dogecoin giveaway.
Justice Ketanji Brown Jackson's unanimous decision on Thursday affirmed that the court, rather than an arbitrator, holds the authority to determine the appropriate venue for resolving the dispute.
Background:
This case has been before the Supreme Court previously. In 2023, the Court ruled in Coinbase, Inc. v. Bielsk that proceedings in the trial court should be temporarily suspended while the arbitration issue was examined.
Dispute:
The dispute centers around a raffle event in which consumers allege they were misled into paying a $100 entry fee.
Ruling:
The Court's decision emphasizes that the court, not an arbitrator, has the jurisdiction to decide where the dispute will be resolved.
Disclaimer:
This is not investment advice.**
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