Today, on behalf of a client, I have filed a claim for damages against the cryptocurrency exchange «Binance» before the National Commercial Court. My client’s damages occurred when USDC was withdrawn from the platform. To go forward with the withdrawal the platform offered the following options:
This, of course, misled my client into believing he was still going to be controlling the funds once making the transfer and he sent the funds over the cheapest network, BSC. However, he did not know that when this happened, his funds would be lost forever.
This lawsuit will involve many new aspects related to law, consumer protection, contracts and cryptocurrencies. If the claim is duly accepted, the sentence will answer questions such as:
- Is the user of a cryptocurrency exchange a «consumer»?
- Can a company that regularly offers services in Argentine territory but is not duly incorporated be brought to trial?
- What is the liability regime applicable to cryptocurrency exchanges?
- What are the limits of descentralization?
These and many more questions will be answered by our National Commercial Court.
If you are interested you can download the claim in spanish here: