Topic: Attorney Advice: What To Do if You Can't Get Your Coins Out Of An Exchange. (Read 245 times)

www.attorneybitcoin.com

My name is George D. Greenberg. I'm a Bitcoin and Crypto-Currency Attorney and have been for several years. Lately we have been getting a lot of communication from those who are having difficulty retrieving their Bitcoin and other coins from trading exchanges.

It is true that the major exchanges have been tightening verification requirements. While this may be a legitimate reason to delay distribution until verification of identity is confirmed, it is not a reason for failing to promptly communicate with the customer. I have heard of ticket responses being delayed for weeks, months and in some cases, years.

You do have legal rights regarding your coins held in these exchanges, but before you pay money to an attorney to forward your cause, be sure to consider the following:

1. Read the Terms of Service or any Terms and Conditions. This should spell out what you did and did not agree to when you opened an account. It could well place the burden upon you to do as they require in certain matters such as providing proof of identity or waiting certain periods of time in order to resolve a dispute. They could provide for mandatory arbitration or mediation.

2. Consider that some of these exchanges have been in business for quite awhile and have at least a basically good reputation.

3. Consider that the Federal Government in the United States has certainly been taking crypto regulation more seriously lately and that this may require the exchanges to re-tool certain aspects of their operations. These things take time as well.

4. Consider that these exchanges likely want to stay in business and they can't do that for long if they defraud people they serve.

5. If you can find a physical address for the exchange, send them a letter outlining your issues along with copies of the history if you have it. It's probably a good idea to send it certified mail return receipt requested.  

If you have done the above and still cannot resolve your issues with an exchange then consider hiring an attorney who is experienced in the crypto currency world to help you to resolve the issues.

I appreciate your questions and comments.

George D. Greenberg, Esq.
www.attorneybitcoin.com
[email protected]
8440 W. Lake Mead Drive Suite 112
Las Vegas, Nevada 89128