Skip to main content

Judge Orders Argentinian Soccer Association to Drop Binance Deal

argentinian

A judge has decided to stop the deal the Argentinian Soccer Association (AFA) signed last week with Binance, one of the leading exchanges in the cryptocurrency world. María José Gigy Traynor dictated a prohibitory injunction ordering the cancellation of all deals announced or signed with Binance, due to exclusivity contracts the AFA still has with Socios.com. The contracts include the issuance of a new fan token.

Argentinian Soccer Association Blocked in Binance Deal

The Argentinian Soccer Association (AFA) has been ordered to stop all the deals it had completed with Binance. María José Gigy Traynor, the judge that ordered the measure against the AFA, considered that there were previously signed agreements that would be in conflict with this new contract.

The sentence issued a prohibitory injunction to “preserve, while the main process is substantiated, the inalterability of a certain factual or legal situation existing prior to the conduct of one of the parties.”

This means that the new deal cannot be executed as long as there are other obligations with other parties. This includes previous contracts which involve naming and fan token launch partnerships, like the ones the association had previously signed with Socios.com, the party that sought this measure.

Socios.com Gets Results

The deal signed with fan-token issuer Socios.com last year included obligations that conflicted with the new deal announced with Binance last month. The Argentinian Soccer Association had already launched a fan token partnership with Socios.com. The recent Binance announcement caused confusion and frustration amongst holders of the first token, who took to social media to speak out.

The Argentinian Soccer Association (AFA) has not offered a direct comment on the order, or any actions it may take regarding the injunction. Socios.com, the party affected by the actions of the AFA, was relieved to receive this prohibitory injunction. In a press release commenting on the issue, Socios.com stated:

We welcome this decision from an independent justice system, which recognizes that our contracts remain in full effect, and we will continue to actively collaborate with Argentina’s justice system to defend the rights of $ARG Fan Token holders.

What do you think about the prohibitory injunction that orders the Argentinian Soccer Association to drop all deals with Binance? Tell us in the comments section below.



from Bitcoin News https://ift.tt/rnfiYd1Om
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more