United

Metamask

Bitcoin

April

Phoenix

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 <a rel="noopener noreferrer nofollow" target="_blank" href="https://x.com/acinq_co/status/1783878732865740940">post</a> 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.”

Bitcoin Wallet Phoenix and Wasabi Exit US Market

TokenInsight

Other articles published on Apr 29, 2024

Just-In: Crypto Firm Partners Harvest To Bring Hong Kong ETFs to Singapore

Institutional Wind Continues to Blow Backwards in Bitcoin and Ethereum: "BTC and ETH Sales, Purch...

Bitcoin, Ethereum and XRP Price Prediction: Bullish Crypto Week?

Thai SEC cracks down on misleading crypto ads

Bloomberg Predicts Bitcoin ETFs Approval and Listing on Australia’s Biggest Stock Exchange by Lat...

ZachXBT Uncovers How Lazarus Group Launders Money

Join our free newsletter for daily crypto updates!