Bitphone, the encrypted bitcoin-accepting online video calling service, has announced that it shutting down due to regulatory requirements.
The bitcoin payphone service said that it was abused by too many users. Moreover, its underlying carrier service now requires it to collect the identification of the users when placing calls – something that Bitphone doesn’t want to do.
“This is an unfortunate outcome, we had recently enhanced our service considerably! We don't want to collect your identification, so we have no choice but to close the service”, it said.
Founded by Gavin Stevens, founder of Solid Cloud, Bitphone is shutting down after just 1.5 years in operation. According to the announcement on Bitphone’s website, the service was not hacked even once during this time and all customer funds are secured and accounted for.
“All accounts are now in withdrawal only mode. You can withdraw funds from the account page. Users have until March 10th 2017 to withdraw their funds”, it said.
