Crypto Investors' Case Against Gaming Co. Must Be Arbitrated

Law360 (August 14, 2020, 8:23 PM EDT) -- A California federal judge has sided with the issuers of a gaming-related initial coin offering, saying that despite arguments from purchasers of the WAX digital currency to the contrary there is a valid arbitration agreement and the case will be stayed pending arbitration.

On Thursday, U.S. District Judge for the Central District of California Cormac J. Carney ruled that an arbitration agreement entered into between two California-based cryptocurrency asset managers, Crypto Asset Fund and Digital Capital Management and OPSkins, the company behind Worldwide Asset eXchange, or WAX, was valid and would therefore stay the case pending arbitration.

The crypto asset managers...

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