Legal Troubles for Blockchain.com Executives
Blockchain.com, a London-based cryptocurrency firm, is under scrutiny following the late filing of company records by its senior leadership.
Key Highlights
- Nicolas Cary and Al Turnball have been summoned by Companies House.
- The late filing is attributed to a significant restructuring within the company.
- Business accounts for the fiscal year ending in 2020 were filed late, in October 2021.
Details of the Situation
As reported by The Telegraph, the summons was issued in May, targeting the executives for failing to submit necessary company documentation on time. Notably, the legal focus is on the overdue filings for the year ending December 2022, rather than the previously filed 2020 accounts.
Reasons for the Delay
Blockchain.com attributed the delays to a major restructuring and a notable reduction in its workforce, which has complicated their operational stability.
Legal Defense Preparation
In response to the charges, Blockchain.com indicated they have acquired legal counsel and are preparing to address the accusations. The case was first heard on September 25 at Cardiff Magistrates Court, with another session scheduled for November 26.
Blockchain.com’s Commitment to Compliance
A spokesperson from Blockchain.com stated:
“We take our compliance responsibilities seriously, and we are actively addressing this administrative matter. We believe it will be resolved promptly.”
Company Overview
Founded in 2011 by Peter Smith and Nicolas Cary, Blockchain.com has grown exponentially, boasting:
- 37 million verified users
- Services in over 200 countries
- 89 million wallets created
- Transactions exceeding $1 trillion
Investors in the company include prominent firms such as Baillie Gifford, DST Global, and Google Ventures.
