17 Sep '13, 8pm

Bitcoin Lawsuit Shakes the Industry

The quest for mainstream Bitcoin acceptance hit a potentially major roadblock this week. Mt.Gox, the Tokyo-based exhange that currently handles about three-fourths of all Bitcoin trades in the world, is suing the Seattle-based Bitcoin exchange CoinLab for about $5.3 million. Last February, the two companies announced a partnership--CoinLab would become Mt.Gox's exclusive North American agent. The deal made sense, largely because Mt.Gox couldn't serve the American market efficiently. But by May 2013, things had gone awry. CoinLab claimed Mt. Gox breached the contract. "Defendants have breached the exclusivity provisions of the Agreement by directly servicing customers in the United States and Canada since the Agreement took effect," CoinLab alleged. The exchange announed it was suing Mt.Gox for $75 million. While that case is still pending, Mt.Gox released its countersuit e...

Full article: http://www.inc.com/eric-markowitz/a-bitcoin-lawsuit-shake...

Tweets

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maxkeiser.com 17 Sep '13, 11pm

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Bitcoin exchange Mt. Gox sues for return of $5M...

news.cnet.com 17 Sep '13, 12am

Mt. Gox, the world's largest Bitcoin exchange, has filed a countersuit against CoinLab that demands the return of more tha...

Bitcoin exchange Mt. Gox sues for return of $5M from CoinLab

Bitcoin exchange Mt. Gox sues for return of $5M...

news.cnet.com 17 Sep '13, 12am

Mt. Gox, the world's largest Bitcoin exchange, has filed a countersuit against CoinLab that demands the return of more tha...

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coindesk.com 16 Sep '13, 10am

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Mt. Gox Responds To CoinLab Lawsuit With $5.5M ...

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