SpicePay, a bitcoin and blockchain payments service announced today that it will be closing its operation. No specific details were given for the decision, but the company mentioned that “due to regulatory issues we can no longer continue to operate.”
Users of SpicePay were being asked to withdraw their available funds at the earliest convenience. Users will have one week to transfer any funds, after that the website will cease to be functional.
SpicePay allowed users to accept and process payments in Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH) via an integration on their websites. The company also provided crypto wallets, and allowed for the exchange of cryptocurrency into fiat currency where users could withdrawal funds in USD or EUR through PayPal, wire transfers or SEPA.
SpicePay is owned and operated by SpicePay B.V. (KvK number 71550623), a company incorporated and existing under the laws of The Netherlands with its registered offices at Planetenweg 5, 2132HN Hoofddorp, The Netherlands and 71 Central Street, London EC1V 8AB, United Kingdom.
Specifying twice to users in an email that the operation would be closing, SpicePay suggested that ONLY its credit card to bitcoin wallet integration will be shutting down but crypto payment processing is business as usual. We are awaiting feedback on the situation.