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Bitfloor Indefinitely Suspends Bitcoin Trading
PerformanceDude writes "Bitfloor (a New York-based online exchange for Bitcoin) yesterday made the following announcement on their website: I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. As such, I have made the decision to halt operations and return all funds. Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request. Roman — bitfloor.com" According to the company's Twitter account, money should be returned to users' bank accounts shortly.
Sounds like the govenrment finally decided they didn't like money outside their control.
Sounds to me like they were a US company not following already existing US Anti-Money Laundering regulations.
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Never. Why on earth would it? Crypto-currencies are a fascinating concept and Bitcoin is one of the greatest experiments ever. Whether it ultimately succeeds or fails is irrelevant, it will be written into the history books forever.
You can tell how powerful someone is by the magnitude of the crime they can commit and be able to get away with.