It was announced earlier today that BitFunder would no longer be doing business with US citizens. BitFunder is one of the largest bitcoin equity exchanges. Users are able to quickly trade for bitcoin-denominated equity in a market with significantly more liquidity than on the bitcointalk.org forums, the primary alternative.

As of October 8th, BitFunder is no longer accepting registrations from US citizens. On top of that, current US citizens will no longer be able to purchase any new shares and furthermore, as of November 1st, US citizens will no longer be able to sell their shares. That is insanity! Many people are outraged by the news and are flooding the forums to voice their opinions. All indications seem to point to US citizens being forced to liquidate their current assets regardless of the cost before November 1st. Does this mean that non US users will be able to pick up some shares at a ridiculously low price? Or with the US people stir up some trouble with the authorities? All we know is that this isn’t good news.

Here is the official announcement from BitFunder:

Important Notice (October 8th, 2013): Please be advised that BitFunder is implementing the following rules and procedures: As of October 8th, 2013, BitFunder will not accept new registrations from any United States persons or entities. All new registrants must supply the information required to obtain “Verified” status on their linked WeExchange account. BitFunder may, in its sole direction, decline to accept any new registrations. As of October 8th, 2013, all current BitFunder users who are located in the United States or are determined to be United States persons or entities will not be able to enter into any new positions on the Bitfunder website, and, as of November 1, 2013, such users will also not be allowed to sell positions on the BitFunder website. All current BitFunder users who are not United States persons or entities must supply the information required to obtain “Verified” status on their linked WeExchange account before November 1, 2013. Any such users who fail to provide the necessary information will not be able to enter into or sell positions on the BitFunder website as of November 1, 2013. Users will be able to withdraw holdings and Bitcoins from their BitFunder accounts before and after November 1, 2013. All assets and issuers must demonstrate that they meet BitFunder’s requirements for the listing of assets, or the assets and issuers will, at BitFunder’s sole discretion, be denied access to, or removed from, the site. Issuers will be notified of any additional information needed to demonstrate compliance with BitFunder’s requirements. BitFunder appreciates your understanding in these matters as we move forward. Sincerely,

BitFunder

Best of luck to all those affected!

Tip The Author

Did you like this article? Why not send a tip to the author as a thank you?

BTC: 14j8VU7TN7X7WrUX5Qw12SJEwquoWtkz7q

LTC: Lfk1Ztt861RHcmA5W9MfXdt94SUdGNMZb4

DGC: DKGEqx6WeBbHMvSG1Gmv6LGdN6qEQfu6zN