Bitcoin Wallet Phoenix and Wasabi Exit US Market

Bitcoin Wallet Phoenix and Wasabi Exit US Market

Reported by Cointelegraph, Acinq’s Bitcoin wallet, Phoenix Wallet, and zkSNACKs’ Wasabi Wallet are both discontinuing services for United States customers in response to the recent crackdown on two major self-custodial cryptocurrency wallet providers.

Both Acinq and zkSNACKs raised concerns about whether self-custodial wallet providers can be seen as legitimate money service businesses following the recent action taken by the U.S. regulatory agencies against Metamask creator Consensys and crypto mixer Samourai Wallet.

“In light of recent announcements by U.S. authorities, zkSNACKs is now strictly prohibiting U.S. users from using its services,” zkSNACKs wrote in an April 27 statement.

“Recent announcements from US authorities cast a doubt on whether self-custodial wallet providers, Lightning service providers, or even Lightning nodes could be considered Money Services Businesses and be regulated as such,” Acinq explained in an April 26 post on X.

Acinq has given Phoenix Wallet users until May 2 to adjust to the upcoming changes, while the new policy at Wasabi Wallet was implemented “effective immediately.”

Acinq explained that Phoenix Wallet users should drain their wallets but avoid “force-closing” their wallets, as “on-chain fees could be significant.”

Source

Wallet

Related News
Phantom Wallet raises $150 million at $3 billion valuation Phantom Wallet raises $150 million at $3 billion valuation
Crypto wallet Phantom confirms it won’t launch a token amid airdrop rumors Crypto wallet Phantom confirms it won’t launch a token amid airdrop rumors
BingX launches ‘ShieldX’ wallet firewall months after $52M hack BingX launches ‘ShieldX’ wallet firewall months after $52M hack
Crypto wallet Exodus donates $1.3M to help ‘mobilize’ US crypto voters Crypto wallet Exodus donates $1.3M to help ‘mobilize’ US crypto voters
MetaMask Wallet Introduces Ethereum Pooled Staking Service MetaMask Wallet Introduces Ethereum Pooled Staking Service
Latest News More More
1 Day Ago Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions
3 Days Ago TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
July 4 Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
July 3 North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
July 3 JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open