Crypto Exchange Coinbase Asks Supreme Court to Compel Disgruntled Customers to Pursue Arbitration
An attorney for cryptocurrency exchange Coinbase told the Supreme Court on March 21 that current customer disputes should not move forward in the lower courts while appellate courts have yet to rule on the company’s request to divert those cases to arbitration panels.
Coinbase finds itself at the Supreme Court because it prefers the arbitration provided for in user agreements to the judicial system, and the U.S. Court of Appeals for the 9th Circuit has refused its requests to move class-action lawsuits to arbitration.
Companies often prefer arbitration to the courts, saying the process resolves cases with greater speed and reduced expense. Some consumer activists prefer the courts because in their view the judicial system provides consumers with more options and is less likely to side with the companies being sued….