Crypto Lender Gets Class Claims Cut In XRP Suspension Suit

23 August 2022

in XRP

Reading Time: 1 mins read

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By Sarah Jarvis (August 23, 2022, 7:59 PM EDT) — A California federal judge has struck for now class allegations from a customer’s suit against Nexo Capital Inc. but found the cryptocurrency lending platform must face other claims in a suit over its allegedly wrongful suspension of Ripple’s digital asset XRP as a payment option.

U.S. District Judge Beth Labson Freeman said in a Monday order that plaintiff Junhan Jeong failed to adequately show that a class action waiver provision in Nexo’s terms and conditions — which users must sign to use Nexo’s crypto credit service — shouldn’t apply. She said Jeong didn’t show the provision was ambiguous or unconscionable, but…

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