The digital currency exchange platform “Coinbase” has been granted a postponement by the Supreme Court in the United States in a class-action lawsuit filed against it. The court, with a majority of 5-4, decided to allow Coinbase to continue its attempt to compel arbitration in the class-action suit, thereby deferring the progress of the lawsuit through the federal judicial system for the time being.
While this is considered a win for Coinbase, it does not directly impact the digital currency industry as a whole. The ruling did not address issues related to digital currencies in general, but it represents the first time a digital currency company has defended itself before the Supreme Court in the United States and may have implications for other lawsuits brought against digital currency exchange platforms. Coinbase can proceed with its attempt to compel arbitration following the Supreme Court’s ruling.