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Phoenix Wallet, a Bitcoin (BTC) wallet, announced that it will stop serving its users in the United States on May 3. Users in the USA will not be able to access the application from the specified date. While US users were advised to withdraw their funds immediately, they were warned that forced closure of wallets could lead to higher on-chain fees. The official reason for the withdrawal of the wallet from app stores in the US was not given, but ACINQ hinted that recent US government statements cast doubt on whether Lightning service providers or even Lightning nodes should be considered and regulated as Money Services Businesses. 🚫

Phoenix Wallet, a Bitcoin (BTC) wallet, announced that it will stop serving its users in the United States on May 3. Users in the USA will not be able to access the application from the specified date. While US users were advised to withdraw their funds immediately, they were warned that forced closure of wallets could lead to higher on-chain fees. The official reason for the withdrawal of the wallet from app stores in the US was not given, but ACINQ hinted that recent US government statements cast doubt on whether Lightning service providers or even Lightning nodes should be considered and regulated as Money Services Businesses. 🚫

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