Official announcement on the shutdown of Bottle Pay

Scotslass

jr. member

Activity: 37

Merit: 1

Quote from: LTU_btc on December 15, 2019, 04:00:59 PM

I never heard about Bottle Pay, but it's not good to see services closing due to regulations. Recently I saw quite many sservices closing for a same reason like this one. For example, Faucethub.io - most popular crypto microwallet.

Agreed, I've witnessed the CryptoBridge being shut down due to some new regulations.
Though I didn't use Bottle Pay, I still do care about good usable projects being shut down.

LTU_btc

legendary

Activity: 3234

Merit: 1375

Slava Ukraini!

I never heard about Bottle Pay, but it's not good to see services closing due to regulations. Recently I saw quite many sservices closing for a same reason like this one. For example, Faucethub.io - most popular crypto microwallet.
@figmentofmyass, I agree that there is some good things about these regulations which make life more difficult for centralized hosted wallets. But at the same time it's sad to see some good and useful services forced to close their business.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: hugeblack on December 14, 2019, 03:01:40 AM

Once again, regulatory rules force a payment service to close. This time Bottle Pay and the reason is "5AMLD EU regulation."

Quote from: https://bottlepay.helpscoutdocs.com/article/40-official-announcement-on-the-shutdown-of-bottle-pay

As we are a UK based custodial bitcoin wallet provider, we will have to comply with the 5AMLD EU regulation coming into effect on 10th January 2020.

the one good thing about AMLD5 and FINCEN's may guidance is they will deter people from using hosted (custodial) wallets. hosted wallets will either shut down (like bottle pay is) or their customer bases will disappear as people realize KYC isn't required for software/hardware wallets.

the bad thing is that mixers are now in the crosshairs of EU and USA regulators. Undecided

hugeblack

legendary

Activity: 2702

Merit: 4002

Once again, regulatory rules force a payment service to close. This time Bottle Pay and the reason is "5AMLD EU regulation."

Quote from: https://bottlepay.helpscoutdocs.com/article/40-official-announcement-on-the-shutdown-of-bottle-pay

As we are a UK based custodial bitcoin wallet provider, we will have to comply with the 5AMLD EU regulation coming into effect on 10th January 2020.

check more ---> https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32018L0843

You should check appointments and review the source for more information:

Quote from: https://bottlepay.helpscoutdocs.com/article/40-official-announcement-on-the-shutdown-of-bottle-pay

New sign ups and deposits to wallets go offline with immediate effect at the time of this announcement (16:00 GMT on Friday 13th December);
Our bots on Twitter, Reddit, Telegram and Discord have also been taken offline with immediate effect. Funds which have already been sent using them will not be claimed and will be returned to the sender as usual within 7 days.
Withdrawal function taken offline, and all wallets closed, at 13:00 GMT on Tuesday 31st December.
Funds remaining in wallets after shut down will be collected and donated to The Human Rights Foundation.

Source ---> https://bottlepay.helpscoutdocs.com/article/40-official-announcement-on-the-shutdown-of-bottle-pay
It seems you have less than a month to do that, I don't know if they send mail.
Take your money off that platform or it will be sent to the Human Rights Organization, as they claim. Grin

Topic: Official announcement on the shutdown of Bottle Pay (Read 164 times)