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News Link • Bitcoin

Bitcoin Core Developer Appeals to SEC Regarding BIT

•, Samuel Haig

In the post, Corallo expresses "grave concerns" pertaining to "the lack of consumer protection" afforded to investors in the event that the bitcoin network is forked. The comment has generated mixed reactions on social media, with some accusing the developer of appealing to the very institutional apparatus that bitcoin originally sought to circumvent and undermine.

The comment was made regarding proposed rule changes that govern the listing and sharing of BIT shares. It focuses on the potential ramifications of future forks with BIT's management of its customers' funds.

Corallo states that he has "grave concerns with the proposed rules for the maintaining of bitcoin deposits and the lack of consumer protection in the event of bitcoin network rules changes in the current filings." Corallo describes a "permanent fork" as "occur[ing] when one group of users wish to make a change to bitcoin's consensus rules, while another group does not…

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