Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: mlawson71 on December 17, 2019, 02:26:43 PM
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The social media crypto tipping service Bottle Pay has decided to shut down because of the new and stricted regulations (https://theforexreview.com/2019/12/16/crypto-social-service-bottle-pay-closes-due-to-new-eu-regulations/) passed in the European Union regarding cryptocurrencies.
The service announced that it is closing in particular due to the new measures set forth by the European Union’s Fifth Anti-Money Laundering directive (AMLD5) which are supposed to come into effect next month. According to that directive there will be more demanding requirements for the operation of a business in the cryptocurrency industry and Bottle Pay cannot cover those requirement.
Frankly, I am not surprised that this is happening, I think the question is only which will be the next company to shut down.