BTCinch is shutting down

Hey everyone, I’ve got some bad news. BTCinch is shutting down. It was a good run, but the legal issues are just too much to handle. User sign-ups are off, and I'm working on disabling deposits now. Honestly, it’s tough to manage, given how Bitcoin works. For now, you can still log in and send out transactions, but tomorrow we’re moving all funds to a different wallet for final payouts and shutting down the transaction server.

Ugh, that’s disappointing. Are you planning to stay in the Bitcoin scene at least?

Definitely sticking around in the Bitcoin community, appreciate you asking!

This is such a bummer! I was actually looking to use BTCinch soon. What legal stuff got in the way?

So, it turns out some parts of our operation likely fell under money services regulations. That means we’d need MSB licenses for each state, which was a real hassle. There were ways to manage it, but BTCinch wasn't in a good spot for it.

I had a bit of a gut feeling about BTCinch at times. Nice to see those doubts weren’t entirely justified.

What’s gonna happen with customer balances though?