13 Nov '17, 12pm

UK threatens to shut down popular Bitcoin investment site BitConnect

It turns out Ethereum founder Vitalik Buterin might have been right to suggest popular Bitcoin investment platform, BitConnect, has been running a Ponzi scheme after all: the UK Registrar of Companies has threatened to shut down the dodgy platform and dissolve its operation. BitConnect has two months to prove “cause to the contrary” until the decision has been formally enforced, according to an official filing on the British Companies House website. Should the company fail to comply with these terms, the government agency will strike off its registration and seize its assets. “Upon dissolution all property and rights vested in, or held in trust for, the company are deemed to be bona vacantia, and accordingly will belong to the crown,” the document reads. Many have speculated that BitConnect likely stashes its funds abroad, though there is no evidence to back this up. You c...

Full article: https://thenextweb.com/hardfork/2017/11/13/bitcoin-bitcon...

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