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re: Mt. Gox Bankrupt?
Posted on 2/19/14 at 10:12 am to LSURussian
Posted on 2/19/14 at 10:12 am to LSURussian
quote:I imagine that the MtGOX folks have made significant investments into the legal ramifications of their operations after the U.S. government announced its requirements for Bitcoin exchanges to follow moneychanger regulations. They would have been fools not to consider exit strategies as well. When they lost their banking relationship(s) with U.S. bank(s) the handwriting on the wall should have become more clear to them. Thus I'd be willing to bet they have good reason to believe their actions are not violating any laws they are likely to be prosecuted for.
That would be highly unethical and likely illegal.
If I had concocted an exit strategy involving the use of arbitrage gains to cash out big. I would have taken steps to avoid upsetting account holders who might use violence as retribution. I would have advised them to liquidate their accounts before I started manipulating the spreads available. Definitely unethical, but still I would have tried to limit the risk.
Posted on 2/19/14 at 10:15 am to Poodlebrain
I've always said "Mount Gox".
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