Binance Seeks Arbitration for Securities Lawsuit

Crypto exchange Binance is seeking to send a class-action lawsuit alleging unregistered securities sales into private arbitration. In a court filing, Binance argues that the plaintiffs who are challenging its operations agreed to mandatory arbitration and waiver of class action rights under the terms of service signed as early as February 20, 2019. This agreement, according to Binance, mandates all disputes be settled through arbitration while prohibiting users from joining or initiating class actions.