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Title: btct.co and litecoinglobal.com why have they shut down Post by: gravitate on October 21, 2013, 06:55:28 AM Why have btct.co and litecoinglobal.com had to shut down? Is it because of new regulations? I have quite a few litecoins and this fact along with atlantis is making them take a dive... Atlantis went under becasue of finances but what about these 2?
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: Swordsoffreedom on October 21, 2013, 06:56:21 AM Regulations in the US
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: h0lybyte on October 21, 2013, 07:02:08 AM Financial regulations and the fact that they probably do not have any of the proper licenses. You can Google up some basic financial (including stocks, options, hedge fund) laws, if you want to know more.
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: Swordsoffreedom on October 21, 2013, 07:06:52 AM Not quite that rather it was likely the crowdfunding legislation bill that passed into the US congress recently
Their wasnt much detail though IMPORTANT NOTICE TO ALL BTC TRADING CORP WEBSITE PARTICIPANTS As a result of recent changes in the virtual currency regulatory environment, the btct.co and litecoinglobal.com virtual stock market websites will be closing down. The following is our current schedule: Approximately a week ago, both sites were closed to any new users and new asset creation was disabled. Effective immediately, in conjunction with this release, trading will be halted, all order books cleared, and trading re-enabled. October 7, 2013, all forms of secondary market trading will be halted on both sites. Approximately October 31, 2013, both sites will be taken offline. It is strongly suggested that participants take the following steps to protect all of their virtual assets: All participants should take steps to transfer all of your BTC and LTC (and any other data you wish to keep, such as CSV trade histories) held on the sites to your personal computer or another trusted site. All participants should make sure that their public BTC or LTC address is properly set in the Account page on the Settings tab whereby it can be shared with all issuers. All “issuers” should have the contact information concerning their “investors”, and we ask that all “issuers” communicate with their “investors” as soon as possible as to how they will ensure that all are treated appropriately. We regret this development. However, we want to do everything we can to minimize problems arising from this transition. It is our goal to keep this shutdown orderly and calm. Thank you for your participation, creativity, loyalty and sense of community over the past year. Additional communications will follow as we work out the details. Ethan Burnside BTC Trading Corp. Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: waltermot321 on October 21, 2013, 07:15:39 AM Thanks to US government. Bitfunder is also closing down soon..
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: gravitate on October 21, 2013, 08:14:30 AM Yet bitcoin price is booming and litecoin is dying.
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: smoothie on October 21, 2013, 08:26:24 AM Agreed. They shut down due to possible government intervention and the risks surrounding such a shutdown if they kept their doors open.
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: gravitate on October 21, 2013, 10:35:06 AM So they are harder to buy then.
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: ethought on October 21, 2013, 11:12:13 AM Thanks to US government. Bitfunder is also closing down soon.. Bitfunder is closing down soon?? Bloody US government...! Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: petersiddle98 on October 21, 2013, 12:46:01 PM Thanks to US government. Bitfunder is also closing down soon.. Bitfunder is closing down soon?? Bloody US government...! Well, bitfunder set a lot of restriction to US people, the close down was just a speculation. Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: Swordsoffreedom on October 21, 2013, 09:30:48 PM I think bitfunders on thinner ice than havelock but will still be around for a while
Their is a bet though on if it closes down by 2014 on bitbets I recall Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: mr_random on October 21, 2013, 09:34:41 PM They didn't shut down because of any new laws. Fincen made it clear earlier in the year such sites would need the proper licences and bonds. And they take millions of dollars to acquire.
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: Swordsoffreedom on October 21, 2013, 09:37:20 PM They didn't shut down because of any new laws. Fincen made it clear earlier in the year such sites would need the proper licences and bonds. And they take millions of dollars to acquire. Not sure what announcement was that from Are you talking about Angels vs Non-Angels aka unaccredited investors in IPO funding Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: scarsbergholden on October 21, 2013, 10:30:17 PM was litecoinglobal.com the only litecoin securities site? looking even worse for LTC! :-\
Title: Re: btct.co and litecoinglobal.com why have they shut down Post by: gravitate on October 22, 2013, 09:04:19 AM Litecoin crashing now down to 1.13!! ??? Panic selling all round. Why do people have to panic sell all the bloomin time?
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