Slashdot Mirror

← Back to Stories (view on slashdot.org)

Court Order: Butterfly Labs Bitcoins To Be Sold

Posted by timothy on from the now-there's-a-flap dept.

MrBingoBoingo writes In a new development in the case against Butterfly Labs, the court overseeing the case has ordered bitcoins held by Butterfly Labs to be turned over to the court-appointed temporary receiver. The order also gives the receiver authorization to convert the bitcoins "to cash on a systematic and reasoned basis." The justification for this measure is at least to ostensibly create reserves with which refunds for Butterfly Labs' customers may be paid.

1 of 66 comments (clear)

  1. Re:Nice by stevez67 · · Score: 5, Insightful

    Recognizing the value of an asset (e.g. stocks, bonds, paintings, sculptures and etc.) doesn't confer legitimacy as a currency.