There are many badly named regulations that have caused companies associated with cryptocurrencies to be forced to close operations, move away from certain markets, or be scammed. After a year and a half offering voice and video chat services, the encrypted cryptography platform announces its end in a BitPhone add indicate that they have been forced to close due to certain regulatory requirements. In a very respectful and subtle way they blame irresponsible clients and the government for their definitive cessation.
BitPhone announced that the service was misused by some customers, the problem was aggravated when the company was required to collect identity information of each of its customers. However, the platform does not say whether the introduction of regulatory requirements was a direct result of the actions of its customers.
The platform objected to granting personal information of its clients and in opposing the regulation decided to cease operations, and thus not compromise their ideals and beliefs, cite Roger See who says the following:
“We believe that it is imprudent and ethically unacceptable to extract personal and private information from our users if it is not necessary for the service they are using. Companies that capture this information expose their users unnecessarily storing sensitive data in a central repository, which inevitably Makes it a target for hackers and other malicious actors.”
This company dedicated to the phone service based on Bitcoin has a very broad history. In addition to Bitcoin this platform allowed users to cancel the service with other digital coins through the association of Shapeshift. It also has high scores on security criteria as it warned all the cyber attacks against it. Current users of the service have received 3 months to withdraw their funds from the BitPhone account. All user accounts are currently set to withdrawal mode only and existing customers with an active contract will receive a partial refund before March 10, 2017.
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