https://glbse.com/GLBSE has been closed
I'm sorry to inform all our users that GLBSE is no longer able to continue operating, and has now closed.
Q: What does this mean if I'm an issuer?
We will do everything in our power to make the process of moving off GLBSE as smooth as possible, we are currently working on a simple, safe, and easy to use method that will allow you to continue your relationship with your asset holders
Q:I'm a GLBSE user, what about my assets and my bitcoin?
You will be able to get back your bitcoin, and if you want to reveal your username, email, and a bitcoin address to accept payments with, you can continue your relationship with the issuer of any assets you hold.
We will begin retuning bitcoin once we have recieved all coins from the GLBSE treasurer that manages the GLBSE cash reserves. BitcoinGlobal (GLBSE's partent company) shareholders and board voted for them to be returned immediately, we are awaiting compliance with this order.
Wow. Who saw this coming? Think we will get all of our BTC back?
- People have been trying to jump off the GLBSE ship for more than a week at this point.
- Originally, information about the shutdown was promised for "saturday" (in most timezones, it's already either past noon on saturday, or already past midnight and therefore sunday morning...
1) For the first bit on that list, I'm disappointed about the delays for getting dividends from my held assets / the contracts I have with the asset (security) issuers, etc. Sucks that the delays are happening, but right now I don't see any reason to believe the ownership of my shares has been compromised. There will be a plan to move forward EVENTUALLY so I want to focus my energy on that.
2) Moving forward... Seems there is still an information vacuum. Main thing I still want to know is what steps I need to take to ensure my asset issuer(s) can honor the contract(s) in question for my share(s) previously managed via GLBSE.
3) Just because an exchange shut down doesn't mean deals and exchange can't take place privately via OTC if some sort of accounting system is developed (or via brokerage houses, ones which are hopefully going to continue to operate in the absence of the now-closed GLBSE)
If you want to burn people at the stake, lynch, complain, demand scammer tags, etc. Please do so in the "scam accusation" or some other board section. I would prefer if this thread be maintained for "information about how to transition away from GLBSE" and/or discussion of the closure.
The forum threads and the info quoted (from GLBSE) in the original post of this thread are quite vague... Does anyone know the EXACT steps asset issuers and stockholders (GLBSE end-users) need to take to move forward?
There is somewhat of a "lynch mob" forming right now. The rest of my post here is just quotes out of the two main threads on the subject.
Nefario has, without a shareholder motion and in violation of the bylaws and GLBSE ToS, decided to close down GLBSE. Users will be able to collect deposits only after submitting identity info...
@theymos
Why / when, and where do I submit identity info. Mostly I'm just wanting to be able to prove the "shares" I have in my portfolio to any / everyone I've invested with so that arrangements can be made.
Sorry to single you out directly theymos, but since you have a stake in GLBSE I figured I'd ask you directly... you probably have better inter-communication with all involved parties and whatnot.
Well I do I spoke to him on the phone. He risks jail time for funding terrorism, money laundering and that's without any tax issues. Nafario's get out of jail card is that everyone who wants to withdraw coins or shares will have to comply with AML regulations. He also said he will soon have a way for assets to pay dividends but not trade shares.
Can you, or one of the shareholders, clarify something for the rest of us?
"Risks jail time for funding terrorism, money laundering, etc" could mean that in the process of looking to legitimise GBLSE (and the fact that Nefario has openly posted that intention here implies that he knew GBLSE was not operating legitimately), his lawyer has become aware of how GBLSE was operating and said "holy fuck, close that shit down right now because you're violating AML/CTF laws all over the place and if the authorities find out what you've been doing you could go to jail - and make sure you get user information so that if this blows up at a later date you've covered your ass a bit".
Another option is that the
authorities have become aware of GBLSE's activities and directed him to shut down GBLSE or face prosecution.
It's not clear from what's been posted by those who've had contact with Nefario whether the authorities have anything to do with this decision or whether it's a pre-emptive move which came about because when he finally consulted a lawyer about GBLSE, the reality of what he was doing and the risks he was taking finally sunk in for Nefario. Can you shed any light at all on this?
Well I do I spoke to him on the phone. He risks jail time for funding terrorism, money laundering and that's without any tax issues. Nafario's get out of jail card is that everyone who wants to withdraw coins or shares will have to comply with AML regulations. He also said he will soon have a way for assets to pay dividends but not trade shares.
He told you this? That's funny, because he
refused to tell the shareholders anything. He would not even confirm (never mind provide evidence) that he was under legal duress.
