The developers of Bitcoin (BTC) wallets Phoenix Wallet and Wasabi Wallet have announced that they will stop providing services to US consumers. In a statement, Wasabi Wallet maker zkSNACKs says it is now blocking US citizens and residents from visiting its websites, downloading its wallet and using related products and services such as API (application […]
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Recent regulatory action against Consensys and Samourai has instilled fear among other crypto service providers operating in the United States.
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.
On Friday, April 26, Acinq announced that its Lightning Network bitcoin wallet, Phoenix, will cease services for U.S. residents from May 3, 2024. This announcement followed closely on the heels of the Samourai Wallet indictment and what is perceived as a targeted U.S. government effort against financial privacy and non-custodial solutions. Lightning Network Platform Phoenix […]