Wallet Of Satoshi Is No Longer Available For US Customers

The notable Bitcoin Lightning wallet provider, Wallet of Satoshi (WoS), has declared its removal regarding US Apple and Google App stores. Nevertheless, the popular wallet provider expressed optimism about future advancements that could facilitate a return and potential resumption of operations in the country.

Lightning Network experienced a surge of 1,200% in the last two years. Now though, the fact that Wallet of Satoshi is indeed leaving the US market behind can be viewed as a major setback for the crypto sector in the United States.

US customers left behind

In a message to the community, Wallet of Satoshi clarified its decision to stop serving customers in the country. Speculation arose that this move might be connected to increasing regulatory scrutiny by US authorities towards the cryptocurrency industry.

This development follows reports stemming via several crypto users noticing the absence of Wallet of Satoshi when it came to app stores in the United States. This coincided with the app reaching a milestone of over a million transactions this month.

On November 24th, various users and members of the crypto community shared their experiences on X, attempting to find the WoS app. They reported either receiving no search results or being redirected to alternative wallet applications. Notably, the app remained available for download on both Apple and Android devices in several other countries.

Strict regulations are to blame

Wallet of Satoshi explained its actions, stating that they have dedicated themselves to providing the best Bitcoin experience while simultaneously being at the forefront of Lightning usability and adoption. However, the team had to make the difficult decision to not serve customers residing in the United States going forward.

While the Bitcoin Lightning app did not disclose specific details about whether external forces compelled the decision or if it was a voluntary choice, some crypto users have linked the removal to the stringent regulatory environment in the US. Recent legal actions against Binance and its former CEO, Changpeng Zhao, have heightened concerns about potential regulatory actions.

In an effort to reassure existing users in the United States, Wallet of Satoshi confirmed that customers still maintain full access to their Bitcoin funds. Users can still withdraw and transfer their funds to another wallet, addressing potential concerns about losing access to their crypto holdings.