Phoenix Wallet will be removed from US app stores on May 3

• Phoenix Wallet has announced that it will be winding down operations for customers in the United States.
• On May 3, Phoenix Wallet will be removed from US app stores.
• The wallet operator advised users to empty their wallets immediately.

Phoenix Wallet, a Bitcoin wallet created by Bitcoin technology company ACINQ, has announced that it will end operations for customers in the United States. In a recent post about

Following the announcement, the wallet provider advised US users to empty their wallets, highlighting the steps to follow. The wallet operator also warned users not to “forcibly close” their wallets under any circumstances. According to them, doing so could result in significant on-chain fees.

There are indications that it was ACINQ’s decision for Phoenix Wallet to leave the United States. In an alternative post, ACINQ cited regulatory issues in the United States as the reason for its recent decision. According to the cryptocurrency wallet provider, U.S. authorities have classified the service provider as a financial services company in the same category as Phoenix Wallet and can decide how to regulate it.

ACINQ’s decision follows recent announcements from U.S. regulators that raise questions about how self-managed wallet providers, Lightning service providers, and even Lightning nodes will be classified. The wallet provider told users it would evaluate other potential impacts the decision to leave the country could have on its operations.

Recently, the U.S. District Court for the Southern District of New York indicted the founders of Bitcoin mixed wallet Samourai on charges of facilitating illegal transactions, including money laundering. Following the incident, the Federal Bureau of Investigation (FBI) warned users that it had begun ‘operations’ against various unregistered cryptocurrency companies.