Pending US Supreme Court Decision is a Coinbase Class Action Cliffhange - Litigation Finance Journal

Gunnar Larson g at
Thu Apr 27 13:01:03 PDT 2023

Check out my new article:

Coinbase’s business has been seminal to the legacy of cryptocurrency
innovation. As the global digital asset marketplace continues to mature,
Coinbase is tiptoeing between a group of class action lawsuits. Now, the
United States Supreme Court is deliberating if Coinbase should be protected
by mandatory arbitration.

Benzinga reports that in March 2023, the U.S. Supreme Court appeared
uncertain regarding whether to allow Coinbase to move to arbitration over
class actions which had been launched against the firm. Executives at
Coinbase argued that private arbitration is a win for business.

The June decision by the Supreme Court will spell a new dynamic for
cryptocurrency sector litigation. Some digital asset scholars predict that
a lack of mandatory arbitration may devastate business dynamics at
Coinbase. Allowing class action lawsuits to continue is an expensive
proposition that would inevitably impact the pace of cross-border crypto
innovation. Meanwhile, U.S. and global regulatory uncertainty is stoking
new legislation that could fuel litigation well into the future.

The efficient nature of digital asset technology is at a crossroads. The
Coinbase decision, commingled with upcoming regulatory requirements
worldwide, will shape business dynamics for enterprise crypto software and
the entrepreneurs behind future sector innovation.
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