Bitcoin futures firm 1Broker, which has been charged with violating a number of U.S. securities laws, has announced that it would reopen withdrawals on Thursday.
The trading platform, which was accused of acting as an unregistered security-based swaps dealer, as well as violating money laundering and wire fraud laws, saw its website seized by the FBI late last month. The platform was able to reopen its site in a read-only mode in early October, announcing at the same time that it was seeking U.S. counsel to fight the charges.
On Wednesday, it added in a tweet that "We will start processing withdrawals tomorrow at 12:00 (UTC). Thanks for your patience in the past days!"
The exchange has not announced any reactivation of its trading platform as of press time.
1Broker's legal battle began in September, when the SEC, CFTC and FBI all filed charges against the site, CEO Patrick Brunner and parent company 1Pool, alleging that the platform offered U.S. investors access to securities-based swaps products without following the required legal processes.
The regulators are seeking a permanent injunction against Brunner and 1Pool, along with monetary penalties, as previously reported.
After its domain was seized, the company said in a statement that it holds sufficient funds to cover any and all withdrawal requests, but that it needed permission from U.S. authorities to enable this function first.
Brunner did not immediately respond to a request for comment on Wednesday.
Chart image via Shutterstock
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Coinbase Adds First Ethereum Token to Professional Trading Platform
Crypto exchange startup Coinbase is adding the 0x protocol token to its professional trading platform, Coinbase Pro.
Announced Thursday, the exchange said in a blog post that it had begun accepting
SpankChain Says Hacker Returned Stolen Crypto Funds
A hacker who stole 165.38 ETH from the SpankChain platform has returned the funds.
The payment platform focused on the adult industry announced Thursday that the hacker, who stole the funds from th
Korea's Largest Bitcoin Exchange Sells Stake in $350 Million Deal
Bithumb, currently the largest cryptocurrency exchange in South Korea by trading volume, just confirmed it has sold more than 38 percent of its total ownership to a blockchain consortium based in Sing
Nevada's Utilities Agency Eyes Blockchain for Energy Credit System
The Public Utilities Commission of Nevada, a government agency charged with supervising and regulating power utility services in the state, is looking to implement blockchain for its energy credit tra
Fake News Site Used New Zealand Prime Minister to Pump Bitcoin Startup
A fake news site has used the likeness of New Zealand Prime Minister Jacinda Ardern to promote articles on Facebook aimed to pump a crypto startup.
Local media source Stuff reported Friday that sev
FinCEN Blasts Iran's 'Malign' Use of Crypto to Bypass Economic Sanctions
A U.S. regulator is urging domestic exchanges to help prevent the Iranian regime from using cryptocurrency to bypass economic sanctions.
The Financial Crimes Enforcement Network (FinCEN) published
3 Bitcoin Price Factors That Suggest Bears Are in Charge
The prospect of a deeper drop in bitcoin prices has increased, price-volume analysis indicates.
The world's most valuable cryptocurrency, which had been trading sideways since September 22, fell sh
Leading Auction House Christie's to Record Art Sales on a Blockchain
London-based Christie's, one of the oldest and most noted art auction houses in the world, is turning to blockchain tech to securely store sales and provenance data.
The firm, which has a history g