Author Topic: CoinPayments.net Shutdown  (Read 749 times)

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Offline stalemate

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CoinPayments.net Shutdown
« on: March 08, 2014, 06:27:36 am »
This is the official announcement from Coinpayments:

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It is with a heavy heart that we have to announce the closure of CoinPayments.net. FinCEN has ruled that Bitcoin is in their purview which would make us a money transmitter. We simply do not have the resources to register with FinCEN and most of the 50 states as a MSB and comply with all of the AML/KYC laws (and no realistic way to raise the funds to do so.)

The shutdown will happen in 3 stages:
1. We will stop accepting new user registrations effective immediately.
2. We will stop processing new transactions at 11:59:59 PM EST on March 24, 2014 (transactions already in progress at that time will be completed).
3. The website will otherwise remain operational until 11:59:59 PM EST on March 31st, 2014 when it will be shut down.

Any refunds due must be requested by the end of March 31st, 2014 and any funds held in your account withdrawn. Keeping the website open for a week from the last new transaction should give everyone ample time to wrap up their affairs in the site.

We extend our sincerest apologies to you and everyone else who has relied on CoinPayments for over 7 months,
MrData & pr0d1gy
CoinPayments.net

It seems we will have only salih's automated OpenCart payment processor for MemoryCoin but I think most of the merchants will discontinue supporting the coin just because they have been using WooCommerce. I kindly request from salih or any other members to implement the payment processor plugin for Wordpress+WooCommerce.
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Offline tomorrow

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Re: CoinPayments.net Shutdown
« Reply #1 on: March 13, 2014, 10:12:10 pm »
update from CoinPayments.net

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Update: CoinPayments.net has been sold to a trusted member of the Bitcoin community, Cycloid. His team will be running the site by March 31st and CoinPayments will continue operations without any interruption.
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