Coinbase has resumed legal actions in Georgia regarding transactions carried out on August 29-30, 2022

It has been revealed that Coinbase, represented by a Georgian legal firm, has reached out to users via email.

The purpose of the communication is to initiate negotiations and find a mutually agreeable solution, allowing users to legally retain a portion of the funds received in August 2022. The deadline for these negotiations has been set as July 15, 2023.

We asked crypto consultant and lawyer Avtandil Kuchava to evaluate the issue:

"Despite this effort, it seems that the dispute will ultimately end up in court, as Georgian consumers show little enthusiasm for refunding the funds. The upcoming trial is anticipated to be significant, not only within Georgia but also internationally. At this stage, it is premature to definitively determine the validity of Coinbase's claim, as both sides present compelling arguments. Some arguments were already raised last September when Coinbase publicly disclosed information about the transactions.

It is worth noting that some Georgian users attempted to engage in negotiations with Coinbase, but no response was received. Consequently, reaching an agreement appears unlikely, at least in the current stage. In my opinion, the likelihood of success or failure, as well as potential settlement resources, will become clearer once the dispute commences. Nevertheless, if Georgian users thoroughly prepare their case, it will likely prove challenging for Coinbase to achieve the desired outcome."