Coinbase Scores Victory with Supreme Court Ruling on Federal Arbitration Act - Litigation Finance Journal

[Gunnar Larson]

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https://litigationfinancejournal.com/coinbase-scores-victory-with-supreme-court-ruling-on-federal-arbitration-act/#more-11549

Coinbase Scores Victory with Supreme Court Ruling on Federal Arbitration
Act - Litigation Finance Journal

Litigation Finance Journal recently reported that Coinbase became the first
US-based cryptocurrency company to argue a case in front of the Supreme
Court. The June decision has been announced, and with a 5-4 majority in
favor of Coinbase, the high court ruled “that an interlocutory appeal about
one matter (arbitrability) bars the district court from proceeding on
another (the merits).”


CoinDesk says the ruling is a distinct legal victory for Coinbase, one that
could impact future lawsuits against all companies in the United States.
For over a century, the Federal Arbitration Act (FAA) has been part of user
agreements to protect corporations from risk and expense associated with
court battles to resolve customer claims. The decision does not represent
any high-court conclusions on cryptocurrencies, outside of Coinbase being
one of the associated parties.

A lower court decision from the U.S. District Court for the Northern
District of California denied Coinbase’s arbitration agreement approach. On
appeal, the Ninth Circuit denied Coinbase’s motion to halt hearings while
appeal is in progress.

The Supreme Court’s decision in favor of Coinbase effectively stays any
trial proceedings while appeal is in progress.
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