Bitcoin exchange Bitstamp has told users that all accounts not verified within the next 28 days will
be handed over to government authorities. Bitstamp released a statement explaining, “We believe it makes good sense for us to act in a conservative fashion and to do our best to safeguard the integrity of the system… After the due diligence process is complete, the remaining funds will be subject to government seizure for uses hopefully related to consumer protection and law enforcement education in this new area of
commerce.” Bitstamp has insinuated that the reason for this decision was the company’s need to follow UK Anti-Money Laundering and Know-Your-Customer laws. Bitstamp has also reassured that no forfeited
customer funds will go to the exchange itself.
Looks like UK is after a warchest of bitcoins…