Senior executives of a £5bn London cryptocurrency company face late account filing charges.

In May, Companies House summoned Blockchain.com co-founder and president Nicolas Cary and operations executive Al Turnbull.

Cardiff Magistrates Court heard the matter on Sept. 25 and will again on Nov. 26, according to court files accessed by The Telegraph.

Last month, the bitcoin corporation supplied 2020 accounts and is being sued for not supplying 2022 accounts.

Leading bitcoin wallet and trading site Blockchain.com was created in York in 2011. It was $7bn (£5bn) after raising $110m in November 2023.

Tens of millions use its bitcoin wallets, which Baillie Gifford, Google Ventures, and billionaire Yuri Milner's DST Global fund.

Company directors may face endless fines for not submitting accounts.

Blockchain.com's 2020 accounts showed its board hired attorneys to contest the matter.

Due to a reorganization and a “significant reduction in the wider group’s workforce” that “taken a period of time to stabilise”, the company submitted late. Blockchain.com has hundreds of worldwide workers.

Directors were taking “appropriate steps to remediate the company’s compliance with all statutory annual filing requirements”, it added.

A Companies House official said, “We can confirm we are taking enforcement action, however we are unable to comment further at this time.”

Blockchain.com spokesman: “We take license and regulatory compliance worldwide seriously. We have prepared all papers for this administrative issue and expect it to be handled quickly.”

Companies House pushes down on firms that don't provide accounts, prompting litigation.

The government is becoming tougher on bogus directors and firms and missing reporting deadlines in its register.

Companies House announced a more “robust approach” after acquiring new powers to query, review, and remove inaccurate registration entries in March.

In September, Companies House director of intelligence Martin Swain said: “Where our guidance and support are not enough to encourage users to comply with the law or discourage misuse of our registers, we won't hesitate to use these new powers available to us.”

Last month, the Financial Times reported that steel billionaire Sanjeev Gupta was being prosecuted for failing to account for over 70 companies.

A GFG Alliance official said Mr. Gupta's organization made “all reasonable steps to resolve the situation”.

Company directors, including Mr. Gupta, deny guilt.