Bitcoin trading platform Harborly announces closure of services and launches new projects

Texas Bitcoin trading platform Harborly recently announced the closure of its service platform. Harborly allows two-way transactions between Bitcoin and local currencies. After more than a year of operation, founder and CEO康纳•布莱克announced that he would close the service platform and start new projects. As for the reason for the closure, the company stated on its website blog:

“We want to make it clear that Harborly’s closure was not caused by a hacker attack, nor was there any fraud or other security-related behavior, which is often the case for some companies to close down, but not for Harborly.”

The Harborly team said it’s working on a new side project, which Black described as a “growth hacking tool and service” that’s currently in private beta.

“Given the potential opportunities in the new project, we wanted to shift our limited resources from Harborly to this new project, which we thought made more sense.”

Although they will no longer operate the Bitcoin trading platform, the team said they will continue to believe in Bitcoin and pay tribute to those who continue to work in the Bitcoin industry.

"The past year has been great and we have learned a lot. We are now turning our attention to new projects and hope that people will continue to support us and continue to serve you."

When asked if cryptocurrency regulation was a factor in the closure of his platform, Black said:

“I admit that we underestimated the economic burden that Bitcoin regulation would place on retail Bitcoin services.”

Black went on to say that the regulatory environment for digital currencies is slowly taking shape, and warned bitcoin startups to overestimate the amount of money and time they will need to invest in compliance.