- Nicolas Cary and Al Turnball received a summons from Companies House in May
- Blockchain.com attributed the late filing to a company restructuring and a “significant reduction in the wider group’s workforce”
- The company filed business accounts for the year ending 2020 in October
London-based Blockchain.com is facing legal action after two senior executives were reported to have missed statutory deadlines for submitting company accounts.
Reports indicate that Nicolas Cary, co-founder and president of Blockchain.com, and operations executive Al Turnball were issued summonses by Companies House in May. The legal focus relates to the company’s delayed accounts filing for the year ending December 2022, although the firm also filed its business accounts for the year ending 2020 in October.
Blockchain.com has explained the delay as the result of an internal restructuring and what it described as a “significant reduction in the wider group’s workforce.” The company said these changes required additional time to stabilize operations and complete the necessary administrative filings.
In its previously filed 2020 accounts, Blockchain.com noted that it had engaged legal advisors and was preparing to address the regulatory matter. The initial hearing took place at Cardiff Magistrates’ Court on September 25, with a further hearing scheduled for November 26.
A company spokesperson emphasized Blockchain.com’s commitment to regulatory compliance, stating that the firm has assembled the required documentation for what it called “an entirely administrative matter” and expressed confidence the issue would be resolved promptly.
Founded in 2011 by Peter Smith and Nicolas Cary, Blockchain.com operates a crypto services platform with a large global footprint. The company reports tens of millions of verified users, millions of wallets, and substantial transaction volume processed since its inception. It has attracted investment from well-known institutional backers over the years.
While the proceedings center on filing deadlines and corporate administration, the case underscores the scrutiny that digital asset firms face from regulators and corporate registries. Ensuring timely submission of statutory documents is a routine but critical obligation for companies, and missed deadlines can lead to enforcement actions even when firms are working through internal reorganizations.
The upcoming hearing will clarify the next steps and any potential penalties, but the company’s public position remains that it has addressed the documentation shortfall and expects a quick resolution.