Balancing the scales in cryptocurrency exchange disputes: Kraken's mandatory arbitration clause held not binding on UK customer; disputes such as trading loss claims may be pursued in the English courts
Disputes between crypto exchanges and their customers can arise for a plethora of reasons; including stolen coins, hacked accounts, technical errors, ‘flash crashes’, and trading losses. However, it is only when a dispute does arise that the implications of the standard customer terms and conditions of many prominent crypto exchanges become apparent - and in particular, the common term that legal disputes are determinable by foreign-based arbitration procedures, rather than in the domestic courts where customers are domiciled....