I had .95btc in cryptsy.

The exchange is now bust with intermittent updates from 'big Vern'.

The authorities don't seem to care, fellow crypto enthusiasts just say things like, 'oh how stupid, never leave your coin in an exchange'.

Is there any regulation around exchanges at all, so that if they go bust, some protocol must be followed?

edit: Just to add cryptsy concealed the loss and continued to trade, if it were a bank there would be legal ramifications. Exchanges are similar to banks, they have accounts with client money but none of the rules seem to apply.

  • 3
    There are the usual rules for bankruptcy - you are an unsecured creditor of the exchange, and are legally entitled to a share of whatever assets they may have. Which might be none. In general this will depend on the jurisdiction where the exchange is located, but I don't know of any place where Bitcoin exchanges are regulated like banks or stock brokerages. Jan 22 '16 at 20:09

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