1Broker Says Bitcoin Futures Site Will Start Processing Withdrawals Thursday

1Broker Says Bitcoin Futures Site Will Start Processing Withdrawals Thursday
October 10, 2018 9:30 PM | By Jit Sutradhar Legal News Regulation US & Canada
Bitcoin futures firm 1Broker, which has been charged with violating a number of U.S. securities laws, has announced that it would reopen withdrawals on Thursday.
The trading platform, which was accused of acting as an unregistered security-based swaps dealer, as well as violating money laundering and wire fraud laws, saw its website seized by the FBI late last month. The platform was able to reopen its site in a read-only mode in early October, announcing at the same time that it was seeking U.S. counsel to fight the charges.
On Wednesday, it added in a tweet that “We will start processing withdrawals tomorrow at 12:00 (UTC). Thanks for your patience in the past days!”
The exchange has not announced any reactivation of its trading platform as of press time.
1Broker’s legal battle began in September, when the SEC, CFTC and FBI all filed charges against the site, CEO Patrick Brunner and parent company 1Pool, alleging that the platform offered U.S. investors access to securities-based swaps products without following the required legal processes.
The regulators are seeking a permanent injunction against Brunner and 1Pool, along with monetary penalties, as previously reported.
After its domain was seized, the company said in a statement that it holds sufficient funds to cover any and all withdrawal requests, but that it needed permission from U.S. authorities to enable this function first.
Brunner did not immediately respond to a request for comment on Wednesday.
Chart image via Shutterstock
Article Source: http://www.coindesk.com
Related Posts
8-Hour Miner Meeting Ends With Litecoin Scaling Agreement
Litecoin’s scaling debate may be coming to an end. A group of miners and exchanges is throwing support behind a …
April 21, 2017 5:44 pm | Jit Sutradhar
BlackBerry Unveils Blockchain Partnership to Support Medical Research
BlackBerry, the software company and former maker of an eponymous line of mobile phones, announced Thursday its plans for a …
October 5, 2018 7:04 pm | Jit Sutradhar
Thai Finance Ministry Awards Licenses to 4 Crypto Firms, Rejects 2
Thailand’s Ministry of Finance has granted digital asset business licenses to four crypto firms, while rejecting two other applications. The …
January 10, 2019 12:05 pm | Jit Sutradhar
Japan’s NEC Expands Role in Hyperledger Blockchain Project
One of Japan’s biggest IT corporations is expanding its role in the Hyperledger blockchain project. NEC Corporation, the Linux Foundation-backed …
June 1, 2017 10:12 am | Jit Sutradhar
Recent Releases
- tZERO Is Live, But Volume Is Light and Its Token’s Price Is Down Sharply
February 15, 2019 7:27 PM | By Jit Sutradhar
- NYSE Arca Filing Kicks Off Countdown for New Bitcoin ETF
February 15, 2019 3:26 PM | By Jit Sutradhar
- Decentralized Finance Emerges as Banner Topic at Ethereum Denver Conference
February 15, 2019 3:25 PM | By Jit Sutradhar
- Apple Hints at Behind-the-Scenes Blockchain Work in New SEC Filing
February 15, 2019 3:15 PM | By Jit Sutradhar
Features
-
tZERO Is Live, But Volume Is Light and Its Token’s Price Is Down Sharply
-
NYSE Arca Filing Kicks Off Countdown for New Bitcoin ETF
-
‘Make Bitcoin Fun Again’: New Lightning App Lets You Buy Pizza With BTC
-
How SABRE Tech Can Stop Hackers From Splitting Bitcoin Into Two
-
JPMorgan Has Its Own Crypto and It’s Starting Real-World Trials
Comments (0)
You must be Logged In or Sign Up to post a comment.