CryptoCurrent shuts shop

CryptoCurrent has put its business on hold while it investigates the cost of getting properly licensed.

AccessTimeIconMay 28, 2013 at 10:18 a.m. UTC
Updated Sep 10, 2021 at 10:47 a.m. UTC

Bitcoin seller CryptoCurrent has put its business on hold while it investigates the cost of getting properly licensed.

A one line statement on its website says:

"We feared this day might arrive, and it has; we are no longer selling bitcoins due to the cost-prohibitive nature of state licensure for a business of our kind."

Meanwhile the company's Twitter feed revealed last week that it was "putting CryptoCurrent business on hold indefinitely".

CryptoCurrent offered anonymous Bitcoin transactions - users could send cash and receive bitcoins in exchange.

But it continues to work with its attorney to find a way to work legally. The feed noted that the Bitcoin conference made clear the need for a money transmitter license for each state - a process which is too expensive for a small business to manage.

The firm said on Twitter: "Well, it appears as though we will not be able to afford the exorbitant fees necessary to pursue the money transmitter licence".

CryptoCurrent's ups and downs have been tracked on a thread on the Bitcointalk forum here.

Read more about


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


CoinDesk - Unknown
Ignite CEO Peng Zhong Announces Departure Shortly After Re-Organization

Zhong’s exit comes weeks after the company’s former CEO, Jae Kwon, said he is re-joining the company as the CEO of spinoff New Tendermint.

CoinDesk - Unknown
CoinDesk - Unknown
DAOs Are the New Way of Impact Work

"Impact DAOs" are at the forefront of new culture of work that asks us to move towards aligning our values with our actions, says the co-founder of Gitcoin.

CoinDesk - Unknown
CoinDesk - Unknown
Sun Token
CoinDesk - Unknown
CoinDesk - Unknown
CoinDesk - Unknown