The Netherland based cryptocurrency mining platform, Simplecoin, will no longer active from January 1, 2020. As per the reports, Simplecoin refused to change its policies to comply with a new AML Directive as it is against the company’s belief and vision.
While Simplecoin supports the concept of privacy and anonymity, the new Directive demands all the crypto-related businesses to adhere to new KYC and AML policies.
Simplecoin has released a note on its website in which it thanked all the users and requested them to withdraw the remaining balance by December 20, 2019. In the note Simplecoin mentioned, “Mining should to be available to anyone and we refuse to jeopardise our users’ privacy”.
The crypto mining platform looked for solutions for a while, but it has become quite apparent that there is no way around it. However, it seems like Simplecoin is planning to return with its operations soon – “We hope to return one day and will reach out to you once there are new developments. It is not over yet” Simplecoin further mentioned.
Source – BeInCrypto