Binance wants to arbitration for all members of the stock of securities

Crypto Exchange Banka asked an American federal judge to send all members of a collective lawsuit claiming to have sold securities for arbitration, on the pretext that the group abdicated its ability to form a collective lawsuit under the company’s conditions.

The Stock Exchange said in the May 16 to a federal court in New York that the conditions of the service, which claimed that the group of the category that it had approved has a condition that users agree to arbitrate all claims, along with a condition that prevents users from launching the separation procedures against the exchange of encryption.

“The court must consider that the prosecutors must arbitrate the allegations that accumulated after February 20, 2019, even if the court is committed to its initial decision regarding the allegations that have been accumulated before that and that the abdication of work in the terms of use 2019 can be implemented for all claims of the plaintiffs,” Binance said.

In March, Judge Andrew Carter to reject Binance requested that all collective procedures claim to arbitration be sent to users who bought symbols on the stock exchange between April 1, 2017 and February 20, 2019, and partially rejected the proposal of users who bought the symbols after 2019 so that a decision can be made to extend the arbitration condition.