3) ruin of cryptocurrency platform In view of the issue of partial reserves and the threat of platform ruin, the ruin procedures of cryptocurrency platforms are veritably important, but the current procedures have excrescencies. The ruin of cryptocurrency platforms isn't subject to the liquidation contract managed by SIPC,
but is affected by Chapter 7 of the Bankruptcy Law. thus, in the event of ruin, the customer obtains the value of its liquidated cryptocurrency in cash. still, numerous guests may prefer to accept cryptocurrency rather than being forced to liquidate their investment. Another uncertain factor in the ruin of cryptocurrency platforms is whether client claims take priority over the claims of general creditors. Since the cryptocurrency platform isn't a member of SIPC,
its liquidation is conducted in agreement with the ruin law. The ruin law has special vittles on the liquidation of securities brokers, and their guests generally profit further than other creditors. Specifically, client means are only used to satisfy client claims, and general creditors have no claims on client property. still, the current law doesn't clarify whether cryptocurrency platforms will be regarded as" securities brokers" and therefore subject to these special regulations.
