RATE Group | U.S. Federal Judge Rules in Favor Bitcoin IRA in Case Against Kingdom Trust
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U.S. Federal Judge Rules in Favor Bitcoin IRA in Case Against Kingdom Trust

15 Nov U.S. Federal Judge Rules in Favor Bitcoin IRA in Case Against Kingdom Trust

Posted at 17:14h in Bitcoin News by

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A United States federal judge has ordered asset custodian Kingdom Trust to fully restore data access to all affected clients following the unilateral termination of customers’ access to their own account information on Bitcoin IRA’s website.

Filed on Nov. 12, a court document reveals that South Dakota District Court Federal Judge Karen E. Schreier ruled in favor of Bitcoin IRA in the case against Kingdom Trust, where the latter allegedly breached a referral agreement by terminating customers’ access to their account data on Bitcoin IRA’s platform without providing prior notice.

The breach of the referral agreement

As described in the document, in September 2018, Bitcoin IRA and Kingdom Trust entered into a referral agreement, which indicated that Bitcoin IRA would refer its customers to use Kingdom Trust as a trust custodian. In return, Kingdom Trust agreed to pay Bitcoin IRA a referral fee for account owners who became Kingdom Trust customers.

However, in August of 2019, Kingdom…

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