On 10th of January, 2020, the Law on the Prevention and Combating of Money Laundering and Terrorist Financing is changed in Hungary.
On the one hand, this is to be welcomed because the legal regulation of cryptocurrencies has finally begun and these are no longer “outlawed”. On the other hand, we are at a disadvantage because one of its provisions requires, among other things, customer identification, reporting and a person for keeping contacts. We are not in a position to meet these requirements as MicroCoin is not a business organization, so meeting these requirements is beyond our possibilities.
The only solution is to discontinue all of the services those requires a private key to be stored on a server. Basically, we are storing private keys for services those requires them, because operating these services can be difficult or impossible without the stored private keys.
It is important that MicroCoin, as a cryptocurrency, is not affected by these changes, but some of its other services are built on it.
These affected services are the following:
- Discord wallet
- Messenger wallet
- “Worth a MicroCoin”-button
- SMS and phone based wallet
- The old mobile wallet
- RewardBot (Although RewardBot does not store a key, it is not working without the Discord wallet, so it can be included here.)
The above services (including RewardBot) will complete their careers on February 4th. It means that you have one week to get your account and the coins, after this you will not be able to do this.
You need to do the following:
Discord wallet
Send a private message to the MCCWallet bot with the PK command. You will get your private key in an answer; you can import it into your desktop wallet and that’s all.
Messenger wallet
Ask your private key with the available menu options. The bot will send your private key in an answer; you can import it into your desktop wallet and that’s all.
“Worth a MicroCoin”-button
Open the https://like.microcoin.hu webpage, log in and press the private key button. It will displays your private key; you can import it into your desktop wallet and that’s all.
If it is integrated into your webpage: remove the code. After the shutdown, there will be a transparent area there, so it won’t be a problem even if you don’t remove it in time.
Old mobile wallet
Transfer the coins from your old mobile wallet wallet to another wallet (new mobile wallet or a desktop wallet account).
SMS and phone based wallet
Fortunately, no one used it, so it was removed earlier.
Thank you for your understanding!
We know this is a nuisance, but it is very important that everything works perfectly legally, we can’t do it in another way. If there is a way to restart services later, we will restart them.
If you need help with the services mentioned above, feel free to ask on Discord and if we can, we’ll help!