Another XRP Project Shuts Down In Less Than A Month

The developer of XRP Wietse Wind of the defunct XRPTipbot and sms.xrptext.com has announced that he will close another XRP project-the XRPtext project by the end of February. The developer cited certain concerns over regulation and also noted that he will work on starting another business, as the reasons behind the closing of the project so let’s read further in the XRP news today.

Wietse Wind the developer that worked for Ripple on XRPTipboot and sms.xrptext.com made an announcement that he no longer intends to work on the sms.xrptext.com project that has given the opportunity to the XRP users to deposit, withdraw or send funds denominated in XRP to another mobile phone number. Another XRP project closes suddenly but the community wonders whether this will have a huge impact on the price.

The developer told the members of the Ripple community to take back their funds from the services before the 28^th of February, 2020. He also told the members of the Ripple community to share the message about the discontinuation of the service to their friends and family. The developer called upon AML/KYC and other regulatory requirements as the main cause of the shutdown of the service.   The XRP texting service has given the opportunity to the users of Ripple to utilize one of the few international phone numbers to relate with a bot programmed to relay XRP to other XRP users through their mobile phones. This announcement is made some weeks after the announcement about the banning of the XRPTipbot from twitter.

Twitter is widely popular with the crypto and blockchain enthusiasts, who utilize the bot in order to transact XRP tips to famous Twitter posters. Wietse Wind managed to put online a modified version of the bot in a short interval after the ban. Twitter banned the XRPTipbot for the impersonation of another account.

Wietse Wind was also the leading developer on XRParrot, the service that has given the opportunity of Dutch XRP users to onboard and offboards from XRP to Fiat. XRParrot closed down due to the adoption of stronger EU anti-money laundering guidelines that were adopted by the government of the Netherland. It looks like strict regulations are making huge damage on innovation in the cryptocurrency space. Though it looks like bad news, the closing of XRParrot and sms.xrptext.com, Wietse Wind is optimistic and plans to start another business.