In a recent legal tangle, Coinbase, a prominent cryptocurrency exchange, and its customers have brought forward a contractual disagreement to the United States Supreme Court. The crux of the matter revolves around who – a court or an arbitrator – should adjudicate on which contract governs the disputes. The US Supreme Court is set to deliberate on the authority appropriate for making such rulings.
The discord arises from two different agreements signed between Coinbase and its customers. According to a report by Bloomberg, one contract advocates for arbitration, while the other endorses court action. This inconsistency in the agreements is the root cause of the ongoing legal impasse.
Adding to the complexity is a sweepstakes agreement, which steered dispute resolution to California courts, creating a challenge in the scenario. Initially, Coinbase imposed arbitration terms on its clients; however, this sweepstakes agreement muddied…
