Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»TRADING NEWS»Phoenix Wallet discontinues service to US users
TRADING NEWS

Phoenix Wallet discontinues service to US users

By Crypto FlexsApril 27, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Phoenix Wallet discontinues service to US users
Share
Facebook Twitter LinkedIn Pinterest Email

Phoenix Wallet, a Bitcoin (BTC) wallet designed for Lightning payments, has announced that it will cease service to US residents starting May 3.

ACINQ, which operates Phoenix Wallet, plans to remove the app from US app stores. This means that from that date, US users will no longer have access to the app.

May 3, 2024, @Phoenix Wallet It will be removed from US app stores.

US users will need to empty their wallets.
– Settings > Close Channel (Android)
– Settings > Drain Wallet (iOS)

We recommend not *forcing* the channel to close as the on-chain fees can be significant.

— Phoenix Wallet (@PhoenixWallet) April 26, 2024

The company advised its U.S. customers to withdraw their funds without delay. However, we warned against forcing the wallet to close as this may result in higher on-chain fees.

Instead, the company urged US iOS users to go to their wallet settings page and hit ‘Empty Wallet’, while Android users also went to the Settings section and hit the ‘Close Channel’ command to safely empty their wallets.

No official reason has been revealed for pulling the wallet from US app stores. However, ACINQ hinted in a tweet that recent statements from the U.S. government are raising doubts about whether self-managed wallets, Lightning service providers, or Lightning nodes can be considered financial services entities and face regulation.

Recent announcements from U.S. authorities have raised doubts about whether self-managed wallet providers, Lightning service providers, and even Lightning nodes can be considered financial services businesses and subject to regulation.

– ACINQ (@acinq_co) April 26, 2024

The company’s decision follows legal action against the creator of Samourai, a Bitcoin hybrid wallet.

On April 24, the United States Attorney for the Southern District of New York announced the indictment of Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill.

Rodriguez and Hill were accused of aiding in illegal trade through samurai. According to the indictment, Rodriguez could face up to 20 years in prison, and Hill could face up to five years in prison if found guilty.

The U.S. Department of Justice alleges that Samourai’s creators allowed more than $2 billion in illegal transactions through the platform and collected more than $4.5 million in fees since 2015. It also claims that Samourai was marketed as a tool to promote censorship resistance and illegal activity.

Along with Rodriguez’s arrest, the FBI warned users about the “operation” of an unregistered cryptocurrency company believed to be a financial services business. The crackdown follows a pattern of U.S. authorities targeting wallets and mixers involved in suspicious activity.

The indictment sparked an outcry in the cryptocurrency community, with CryptoQuant CEO Joo Ki-young defending Rodriguez and Hill, arguing that privacy is a fundamental aspect of Bitcoin.

Joo likened this situation to punishing the person who invented the knife rather than the person who misused it, emphasizing that legality is determined by the intention in using the tool.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

Why I am still optimistic despite noise

June 26, 2025

Like the initial Cardano, a way to reach $ 300 for Loy tokens more than $ 450K

June 25, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

As the strong sentiment persists, the ruling rises by 103%.

February 20, 2025

OKX Launches Signals Trading Platform, Empowering Traders with High-Quality Signals and Smooth Execution – Blockchain News, Opinion, TV & Jobs

December 7, 2023

Is the Santa Rally coming up? Top Crypto Trader Predicts Upside for Dogecoin, PEPE, and One Solana-Based Altcoins

December 2, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.