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RE: The SEC shuts down 1Broker, are other exchanges next?

in #crypto6 years ago

That's what 1Broker is saying - The money is safe and will be released as soon as possible.

There isn't much stopping the SEC or somebody else from actually seizing it though, I'd imagine. I don't mind if I lost it because 1Broker was a scam site and I made a mistake by giving my money to a scammer. That would be on me and my own choices. But when a third party can come in and take my money because of rules they wrote themselves, that's absolutely ridiculous and isn't protecting anyone.

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Yea, it likely depends on how severe the fines and penalties are. Though I would bet that the SEC lets customers withdraw their funds. They are all about protecting investors, otherwise they get sued. If there was a lot of money laundering going on through that exchange, that might be something else entirely and might impact whether customers can get their funds out...