Wallet of Satoshi withdraws from the United States

Bitcoin Lightning Network

Renowned Lightning Network wallet provider, Wallet of Satoshi, has made a surprising decision by removing its app from the Apple and Google app stores in the United States. The company confirmed that it will not serve American customers in the future, sparking speculation and leaving its users in the country in an uncertain position.

Wallet of Satoshi says goodbye to the United States without detailed explanations

Despite the relevance of Wallet of Satoshi in the world of cryptocurrencies, the team did not provide a specific reason for this abrupt decision. The application is still available for download in other countries, but American users are uncertain about the reasons behind this withdrawal. The company, however, has assured its users in the US that their funds are safe and available to transfer to other wallets.

Speculations on regulations and legal actions

In the absence of details provided by Wallet of Satoshi, speculation among the crypto community has increased. Some users suggest that the app could have been banned in the United States due to the regulatory environment surrounding the cryptocurrency industry in the country. This climate has recently intensified with legal actions against prominent players, such as Binance and its former CEO, Changpeng Zhao. Despite these speculations, the company maintains that the withdrawal was its own decision.

“Wallet of Satoshi needs to comply with local regulations or laws in ways it cannot, or will not,” said John Carvalho, CEO of Bitcoin software developer Synonym.

Wallet of Satoshi hopes to return to the US market

Despite the withdrawal, Wallet of Satoshi remains hopeful of returning to the US market in the future. The company has expressed its hope that “future developments will allow us to revisit and possibly resume our US operations.” This message leaves the door open to possible changes in the regulatory landscape or strategic decisions that could pave the way for the return of the application.

Past criticisms and the evolution of the Lightning Network

Wallet of Satoshi, despite being one of the most popular Lightning Network wallets, has faced previous criticism due to the custodial nature of its app. Unlike non-custodial solutions, this one retains control over user funds, which has raised concerns in the community about the security and control of digital assets.

This withdrawal from the US market coincides with a significant increase in Lightning Network capacity. The network has reached all-time highs in both US dollar and bitcoin terms. US dollar capacity has seen a 67% increase over the past two months, reaching $207 million, close to the record set in November 2021. Bitcoin capacity has also increased by 20%, reaching 5,530 BTC.

The wallet of Satoshi has not given any explanation in this regard.

Despite the questions and speculations, Wallet of Satoshi has not yet given detailed comments on the matter, leaving the crypto community and American users in uncertainty. The lack of clarity around the reasons for the withdrawal and the possibility of a future return keep the community’s attention as they await further details and clarifications from the Lightning Network wallet provider.

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