zkSNACKs has taken regulatory steps towards its customers in the United States and related territories.
The Wasabi Wallet developer announced that users from the United States will not have access to its services till further notice. This move underscores the regulatory pressures from the U.S. Securities and Exchange Commission (SEC) on crypto firms.
zkSNACKs Pulls Wasabi Wallet Access From The US Market
According to a recent announcement from zkSNACKs, citizens of the United States will no longer have access to its website. This includes blocking them from downloading its privacy-boosting Bitcoin wallet, Wasabi Wallet, and other products like APIs and RPC interfaces.
The Wasabi Wallet developer aims to achieve this regulatory move by installing an IP address firewall on the websites of wasabiwallet.io, api.wasabiwallet.io, and zksnacks.com.
In light of the announcement, zkSNACKs warned U.S. permanent residents and passport holders to avoid its websites or Wasabi Wallet coinjoin feature.
Coincidentally, zkSNACKs’ U.S restriction came after ACINQ — the company behind Phoenix Wallet — blocked United States customers from using its services. Though zkSNACKs policy takes effect immediately, Phoenix Wallet users have until May 2 to clear their wallets.
These actions from the self-custodial cryptocurrency wallet providers have raised concerns over the legitimacy of their services.
Recent announcements from US authorities cast a doubt on whether self-custodial wallet providers, Lightning service providers, or even Lightning nodes could be considered Money Services Businesses and be regulated as such.
— ACINQ (@acinq_co) April 26, 2024
