A judge of the United States court has dismissed the legal proceedings against PoolTogether, a decentralised finance (DeFi) platform, stated Cointelegraph. It is expected that the court is not in the correct position to raise concerns about the DeFi startup.
“Therefore, the Court holds that Joseph Kent lacks standing to sue and, accordingly, grants the defendants’ motions to dismiss on that ground. The alternative motions to compel arbitration are denied as moot,” the court order explained.
With insights from the legal proceedings filed by the opponent in October 2021, it mentioned that the DeFi startup violated gambling laws in New York by allowing people to avoid financial regulations and scam consumers. Supposedly, it described the platform as “an old-fashioned numbers racket,” Cointelegraph highlighted.
Furthermore, Kent is “free to pursue his claims in state court” adding that the issues that were raised in the dismissal motions and remained unanswered should be “resolved by the New York Court of Appeals,” Cointelegraph concluded.
(With insights from Cointelegraph)
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