Phoenix and Wasabi Halt US Operations Amid Regulatory Pressure: Self Custody on Trial?

Monday, 29 April 2024, 12:10
Phoenix Wallet and Wasabi Wallet, two major service providers, have decided to discontinue their operations in the United States due to regulatory pressure against self-custody wallet service providers. This move reflects a growing concern about potential classification as money services businesses, following the recent actions against similar firms. The regulatory actions highlight the risks surrounding self-custody wallets and their potential misuse for illicit purposes, prompting companies to reassess their operations in compliance with regulations.
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Phoenix and Wasabi Halt US Operations Amid Regulatory Pressure: Self Custody on Trial?

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