Bottlepay returns

The service for sending cryptocurrencies through social networks, Bottlepay, will restart operations with the promise of new technologies for its platform.

Through its Twitter account, the Bottlepay team announced its return to users. On your website you can also find messages related to your environment. As described by Bottlepay, this time they will return with several new features. They claim that their website, brand, application, and technology were renewed for their next rebirth.

[Your website for those who want more information](https://bottlepay.com/)

In December 2019, the project had to close its operations. The strict regulations of the European Union (EU) on money laundering led the company to take this measure, in order to respect the privacy of its users.

With the 5AMLD EU regulation, which came into effect in January 2020, the British company was required to provide personal data about its users, which they said would radically change the user experience. Before forcing the situation and making their users feel uncomfortable, they preferred to close their doors.

European regulations pushed the closure of cryptocurrency companies

Bottlepay was once a UK company specializing in micro payments and bitcoin management on the Lightning Network. The company managed to raise around USD 2 million while maintaining operations.

Bottlepay was not the only company offering cryptocurrency wallet services that was affected by the regulation. Coinchop and SimpleCoin were also forced to close their operations by the strict “Know Your Customer” (KYC) regulations that the EU Anti-Money Laundering Directive wanted to implement at the time.

Despite the fact that the regulation imposed by the EU is in force, Bottlepay intends to resume operations. The company's team says that they will be making updates during the week in the near future to inform users of their progress.

Posted Using LeoFinance