Key Points from the Decision:
- Binance cannot force US customers to arbitrate claims over crypto losses before 2019.
- The judge ruled that users lacked sufficient notice of Binance’s 2019 arbitration clause.
- Carter found the 2019 arbitration clause could not be applied retroactively due to unclear language.
Binance Response:
The company stated that all claims accruing after February 20, 2019, have already been dismissed voluntarily by the plaintiffs. They will vigorously defend any remaining claims in federal court rather than arbitration.
Remaining claims now proceed in a US federal court where judges assess whether crypto platforms can rely on unilaterally updated online terms to limit investor lawsuits.
In summary, the near-term setup stays event-driven: Key Points from the Decision: Binance cannot force US customers to arbitrate claims over crypto losses before 2019. The judge ruled that users lacked sufficient notice of Binance's 2019 arbitration clause. Carter found the 2019 arbitration clause could not be applied retroactively due to unclear language. Binance Response: The company stated that all claims accruing after February 20, 2019, have already been dismissed voluntarily.
What To Watch
Key confirmation signals now include court filings, regulator statements, and any updated compliance guidance from the involved parties.
Market participants will monitor whether legal outcomes change exchange operations, token access, or disclosure standards in major jurisdictions.
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