• The US Supreme Court docket has dominated that district courts should keep class motion proceedings if interlocutory appeals are pending.
• Coinbase has filed an attraction after its movement to compel arbitration was dismissed.
• The ruling comes days after Coinbase was sued by the SEC for alleged securities legislation violations.

Coinbase scores notable victory following US Supreme Court docket ruling on attraction towards arbitration.

On Friday, the U.S. Supreme Court docket dominated in favor of the cryptocurrency exchanges, saying the federal court docket should keep the proceedings within the pending arbitration proceedings of the defendants.

US Supreme Court docket Upholds Coinbase Facet

The Supreme Court docket ruling confirmed that the alternate earlier this yr “A movement to compel arbitrationwas dismissed in the US District Court docket for the Northern District of California.

Coinbase has filed an interlocutory attraction, asking the district court docket to remain the category motion proceedings till the attraction is resolved. This was additionally dismissed by the US Court docket of Appeals for the Ninth Circuit.

“If a federal district court docket denies a movement to compel arbitration, the dropping social gathering has a statutory proper to interlocutory attraction. The one query right here is whether or not the district court docket should keep the pretrial and trial proceedings whereas interlocutory appeals are pending.The reply is sure: the district court docket should keep the proceedingsstated Justice Brett Kavanaugh in a Supreme Court docket opinion.

Coinbase faces a category motion lawsuit filed by Abraham Bielski in the US District Court docket for the Northern District of California. He stated that the U.S.-based cryptocurrency alternate “failure to alternate funds fraudulently withdrawn from the person’s account;“

In its ruling, the Supreme Court docket famous that “Coinbase’s person settlement gives for dispute decision by means of binding arbitration.” This knowledgeable the alternate’s transfer to file for arbitration, which was dismissed by a decrease court docket.

“We thank the Supreme Court docket for its cautious consideration. One other instance of why I imagine within the American court docket system. The rule of legislation is typically sluggish and typically disappointing.But it surely stays our final and best hope in an imperfect democracy.Coinbase Chief Authorized Officer Paul Grewal tweeted.

Whereas the bulk favored Coinbase, Decide Ketanji Brown Jackson dissented.Right now’s Majority Invents New Suspension Guidelines That Completely Favor Sure Varieties of Litigants: Defendants In search of Arbitration”

Based on Justice Jackson, the transfer “Important Implications for Federal Litigation“

Coinbase was lately sued by the U.S. Securities and Alternate Fee (SEC) for allegedly violating securities legal guidelines.