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RE: The SEC shuts down 1Broker, are other exchanges next?
I would think that at some point customers will be able to withdraw their funds, though that is just me speculating.
I would think that at some point customers will be able to withdraw their funds, though that is just me speculating.
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.
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...