Phoenix Wallet, a Lightning payment-focused Bitcoin (CRYPTO:BTC) wallet, has announced its decision to cease serving U.S. residents starting May 3.
ACINQ, the company behind Phoenix Wallet, will remove the app from U.S. app stores, advising users to withdraw their funds promptly to avoid potential issues.
The decision comes amidst concerns raised by recent U.S. government statements regarding the regulatory status of self-custodial wallets and Lightning service providers.
This move follows legal action against the creators of Samourai Wallet, accused of facilitating illegal transactions, signaling a broader crackdown by U.S. authorities on crypto wallets and mixers involved in questionable activities.