2019-8-15 23:00 |
Nevada abruptly changed its regulatory stance on cryptocurrency kiosks, alarming many providers.
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The CEO and other top executives are accused of a breach of fiduciary duties, unjust enrichment and wasting corporate assets.
The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto.
Nevada's Financial Institutions Division cited concerns over unsafe operations and insolvency as it took against Prime Trust.
Nevada's Financial Institutions Divisoin filed to appoint a receiver for crypto custodian on Prime Trust, the regulator announced on Tuesday.
Crypto custody firm Prime Trust has "a shortfall in customer funds" and was unable to meet all withdrawal requests this month, the Nevada Department of Business and Industry said Thursday.
Citing recent inquiries from bitcoin businesses, Nevada is asking that bitcoin ATMs and others request license determinations. The post Nevada: Bitcoin ATMs, Other Services Should “Request Licensure Determination” appeared first on Bitcoin Magazine.