{"id":129594,"date":"2025-05-20T03:15:28","date_gmt":"2025-05-20T03:15:28","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129594"},"modified":"2025-05-20T03:15:28","modified_gmt":"2025-05-20T03:15:28","slug":"binance-wants-arbitration-for-all-members-of-securities-class-suit","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129594","title":{"rendered":"Binance wants arbitration for all members of securities class suit"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto exchange Binance has asked a US federal judge to send all members of a class-action lawsuit alleging it sold securities to arbitration, arguing that the group waived their ability to form a class action under the company\u2019s terms.<br \/>\nThe exchange said in a May 16 filing to a New York federal court that its terms of service, which it claimed the class group agreed to, has a clause that users agree to arbitrate all claims, along with a clause preventing users from launching class actions against the crypto exchange.<br \/>\n\u201cThe Court should hold that Plaintiffs are required to arbitrate claims that accrued after Feb. 20, 2019, even if the Court adheres to its initial decision as to claims that accrued before then and that the class-action waiver in the 2019 Terms of Use is enforceable for all of Plaintiffs\u2019 claims,\u201d Binance said.<br \/>\nBinance argues that its terms of service have a clause about users agreeing to arbitrate all claims. Source: PACERIn March, Judge Andrew Carter denied Binance\u2019s request to have all of the class action\u2019s claims sent to arbitration for users who bought tokens on the exchange between April 1, 2017, and Feb. 20, 2019, and partially denied the motion for users who bought tokens after 2019 until a decision could be made to what extend the arbitration clause would apply.\u00a0\u00a0<br \/>\nBinance said in its latest filings that it updated its terms in February 2019 to include the arbitration clause and argued that an earlier version of the terms of service included a clause that informed users that Binance could amend the terms as needed without any individual notice.<br \/>\nBinance case was previously dismissed\u00a0<br \/>\nJudge Carter had sided with Binance and dismissed the suit in March 2022. Binance had argued that it isn\u2019t beholden to US securities laws because it doesn\u2019t have a physical headquarters in the country.<br \/>\nThe US Court of Appeals for the Second Circuit overturned that decision in March 2024, and the Supreme Court later declined to hear Binance\u2019s appeal in January.<br \/>\nRelated: US judge transfers Binance lawsuit to Florida, citing first-to-file rule<br \/>\nBinance\u2019s legal entanglements in the US have escalated since mid-2023, when the Securities and Exchange Commission sued the company for selling unregistered securities, which was settled for $4.3 billion in November 2023.<br \/>\nBinance was also slapped with a class action in Canada in April 2024 for allegedly violating securities laws after it announced its departure from the country in May 2023.<br \/>\nMagazine: Arthur Hayes $1M Bitcoin tip, altcoins\u2019 powerful rally\u2019 looms: Hodler\u2019s Digest, May 11 \u2013 17<a href=\"https:\/\/cointelegraph.com\/news\/binance-wants-arbitration-members-securities-class-suit?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto exchange Binance has asked a US federal judge to send all members of a class-action lawsuit alleging it sold securities to arbitration, arguing that the group waived&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129594"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129594"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129594\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129594"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}