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Bitcoin IRA Wins Lawsuit Against Kingdom Trust

Ramsey Baker

Summary: Federal Judge Karen E. Schreier of the South Dakota District Court ruled in favor of Bitcoin IRA in the case against Kingdom Trust, ruling that Kingdom Trust broke the referral agreement by ceasing customers’ access to their account data on Bitcoin IRA’s program without affording the customers any notice. Bitcoin IRA and Kingdom Trust entered ...

Federal Judge Karen E. Schreier of the South Dakota District Court ruled in favor of Bitcoin IRA in the case against Kingdom Trust, ruling that Kingdom Trust broke the referral agreement by ceasing customers’ access to their account data on Bitcoin IRA’s program without affording the customers any notice.

Bitcoin IRA and Kingdom Trust entered into a referral agreement on September 2018. This agreement stated that Bitcoin IRA would refer its users to use the Kingdom Trust platform. In return, Kingdom Trust would pay Bitcoin IRA for every referral that became Kingdom Trust customers.

However, in August 2019, Kingdom Trust removed Bitcoin IRA’s application programming interface accesses and ceased their daily account information updates. Which caused clients to have inaccurate information about the assets in their account.

By Ramsey Baker

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