U.S. Judge Andrew Carter ruled that Binance cannot force arbitration for crypto losses.
The decision allows investors to take claims to court over alleged risks tied to certain tokens.
A U.S. court decision prohibits Binance from requiring customers to arbitrate the crypto loss claims. The ruling demonstrates the legal scrutiny that cryptocurrency exchanges have to deal with in order to protect customers by permitting investors ans asked to file claims in court rather than through private arbitration.
In Manhattan, U.S. District Judge Andrew Carter determined that Binance had neglected to inform users that its revised rules renounced class-action rights and required arbitration. With that, customers can pursue claims in court for transactions up to February 20, 2019, as per the Reuters report.
Judge Carter further pointed out that Binance never made it apparent to users where to locate the arbitration provision in their terms or what it was. Additionally, he claim
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