The recent news on the EU Directive on Anti-Money Laundering (AMLD5) which will take effect on 10 January 2020 still threaten the existence of financial companies as two more companies have been shut down. The Directive that is focused on fighting money laundering and terrorist financial activities has led to the doom of more companies as Simplecoin and Chopcoin are set to close down some days before January 10.
Simplecoin, a crypto-company established by Christian Grieger in 2018, and has over 40,000 users only have until December 20 for users to withdraw their money and up to December 31 to delete their accounts. Similarly, Chopcoin is also affected by this directive and is expected to close down before the law takes effecton January 10.
