Phoenix And Wasabi Exit US Market Amid Self-Custody Wallet Crackdown
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.
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.”
(With inputs from Shikha Singh)
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