You cannot sue Binance.US in court or join a class action lawsuit — all disputes must go through private arbitration run by JAMS, which is typically more expensive and less accessible for individual consumers.
Consumer impact (what this means for users)
This clause eliminates your right to a jury trial and prevents you from joining with other affected users in a class action lawsuit against Binance.US, forcing all disputes into private JAMS arbitration where consumers statistically have lower success rates.
What you can do
⚠️ These actions may provide transparency or partial mitigation but may not fully address the underlying issue. Effectiveness varies by jurisdiction and individual circumstances.
Opt Out of Arbitration
Within 30 days
To opt out of mandatory arbitration, send written notice to Binance.US's Legal Department by certified mail within 30 days of first agreeing to the Terms of Use. Your notice must include your full name, the email address associated with your account, and a clear statement that you are opting out of the arbitration agreement.
Cross-platform context
See how other platforms handle Mandatory Arbitration and Class Action Waiver and similar clauses.
Without the ability to join a class action, individual consumers with small losses have very little practical ability to hold Binance.US accountable, since the cost of individual arbitration often exceeds the value of any claim.
View original clause language
PLEASE READ THIS SECTION CAREFULLY – IT MAY SIGNIFICANTLY AFFECT YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT. YOU AND BINANCE.US AGREE THAT ANY DISPUTE, CLAIM, OR CONTROVERSY ARISING OUT OF OR RELATING TO THESE TERMS OR THE BREACH, TERMINATION, ENFORCEMENT, INTERPRETATION OR VALIDITY THEREOF, OR TO THE USE OF THE SERVICES, WILL BE SETTLED BY BINDING ARBITRATION, EXCEPT THAT EACH PARTY RETAINS THE RIGHT TO BRING AN INDIVIDUAL ACTION IN SMALL CLAIMS COURT. THE ARBITRATION WILL BE CONDUCTED BY JAMS PURSUANT TO ITS RULES. YOU ACKNOWLEDGE AND AGREE THAT YOU AND BINANCE.US ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS ACTION OR REPRESENTATIVE PROCEEDING.
(1) REGULATORY FRAMEWORK: This provision engages the Federal Arbitration Act (9 U.S.C. §1 et seq.), which governs enforceability of arbitration agreements. The CFPB's 2017 arbitration rule (12 C.F.R. Part 1040), which would have restricted class action waivers in financial services, was repealed by Congress, but state-level restrictions remain. California's McGill Rule (McGill v. Citibank, N.A., 2 Cal.5th 945) voids class action waivers for injunctive relief claims under California consumer protection statutes. The FTC has flagged mandatory pre-dispute arbitration clauses in financial services as a significant consumer protection concern.
(2)
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Applicable agencies
CFPB
The CFPB has regulatory authority over mandatory pre-dispute arbitration clauses in consumer financial services agreements under its UDAAP authority (12 U.S.C. §5531).
The FTC has authority to challenge class action waivers and mandatory arbitration clauses that constitute unfair or deceptive practices under Section 5 of the FTC Act.