In mid-January, Wietse Wind’s project, XRParrot announced that it was shutting down its activities owing to the new regulatory order in Netherlands, as the country served as the administrative headquarter of XRParrot.
At that time, Wind said users cannot be charged at high rate to meet up since the registration, license, legal and operational cost were too high, hence XRParrot was on the verge of discontinuing.
The Central Bank of Netherland announced the regulation to be followed by companies that offer cryptocurrency services in January, however, the bank provided a grace period of six months to comply with the mandatory regulations.
Although, the huge registration cost chucked out many small crypto-businesses, prominent XRP tipping service TipBot is now working together with Uphold to ensure that it continues to offer its services to people without charging huge cost.
Nevertheless, the huge fee affected TipBot a little, the platform changed its mode of operation due to the sudden regulatory issue.
Wietse Wind, the creator of the service, had no choice than to nullify free transaction processing to sustain the project. But he is still not in support of charging heavily to sustain the project and that brought about the incorporation of TipBot with digital money platform Uphold.
Recent update from Wieste confirms that the XRP tipping service TipBot will no longer go offline, however, it will work in conjunction with Uphold.
Existing users will have to link XRP TipBot with their Uphold account in order to be able to receive and store their crypto assets.
Users who decide to use XRP TipBot will have to do so via the Uphold account and are free to withdraw their balance, anytime.