A decision from the Tribunal of Milan in the Binance case, a compensatory class action concerning cryptocurrencies, currently appealed, is herein analysed. Its relevance is rather significant, given the extraordinary impact it could have on future cases from an access to justice perspective, should it be confirmed. It raises, in fact, numerous concerns in terms of class action waivers, relationship between the right to a court and the arbitral tribunal, as well as the delicate issue of the competent court for defendants who do not have a seat in Italy. The very core of the right to effective judicial protection, as discussed, is here at stake, with interpretative takes and problematic provisions which raise doubts of constitutional legitimacy.

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Case Study No. 4: Arbitration Clauses, Class Waivers and Foreign Defendants. The Binance Case

  • Ander Maglica

摘要

A decision from the Tribunal of Milan in the Binance case, a compensatory class action concerning cryptocurrencies, currently appealed, is herein analysed. Its relevance is rather significant, given the extraordinary impact it could have on future cases from an access to justice perspective, should it be confirmed. It raises, in fact, numerous concerns in terms of class action waivers, relationship between the right to a court and the arbitral tribunal, as well as the delicate issue of the competent court for defendants who do not have a seat in Italy. The very core of the right to effective judicial protection, as discussed, is here at stake, with interpretative takes and problematic provisions which raise doubts of constitutional legitimacy.