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Author Topic: BTC-TC & LTC-Global Website Shutdown Announcement Discussion  (Read 2269 times)
fran2k
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September 23, 2013, 02:23:01 PM
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Both BTC-TC and LTC-Global are closing the site, as announced today:

Quote
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:

1. Approximately a week ago, both sites were closed to any new users and new asset creation was disabled.
    
2. Effective immediately, in conjunction with this release, trading will be halted, all order books cleared, and trading re-enabled.
    
3. October 7, 2013, all forms of secondary market trading will be halted on both sites.
    
4. 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:
    
   A. 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.
        
   B. 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.
        
   C. 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.
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September 23, 2013, 02:30:07 PM
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Is there any reason they are doing this? Legal claims?
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September 23, 2013, 02:34:16 PM
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Is there any reason they are doing this? Legal claims?

It could be legal action being taken by the SEC or it could just be pre-emptive based upon legal advice received. So far, Burnside is keeping this information close to his chest.

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