United

when

Tornado Cash

Tornado

<div class="coinjournal">
 <ul>
  <li>zkSNACKs restricts Wasabi Wallet access for U.S. citizens and residents.</li>
  <li>Decision follows arrests of Samourai Wallet and Tornado Cash founders.</li>
  <li>Move aims to mitigate legal risks amidst regulatory scrutiny.</li>
 </ul>
 <p>In response to recent legal actions and <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> scrutiny, zkSNACKs, the <a rel="noopener noreferrer nofollow" title="developer" href="https://thebittimes.com/tag/developer.html">developer</a> behind the privacy-focused Wasabi Wallet, has decided to restrict access to its services for United States <a rel="noopener noreferrer nofollow" title="users" href="https://thebittimes.com/tag/users.html">users</a>.</p>
 <p>This move comes <a rel="noopener noreferrer nofollow" title="amidst" href="https://thebittimes.com/tag/amidst.html">amidst</a> growing <a rel="noopener noreferrer nofollow" title="concerns" href="https://thebittimes.com/tag/concerns.html">concerns</a> within the cryptocurrency community following the arrests of individuals associated with other privacy-enhancing wallet services, such as Samourai Wallet and Tornado Cash.</p>
 <h2 id="arrests-of-the-founders-of-samourai-wallet">Arrests of the founders of Samourai Wallet</h2>
 <p>The decision to block access for U.S. citizens and residents was announced in a blog update by zkSNACKs, citing recent developments involving other privacy-focused wallet services.</p>
 <p>Specifically, the arrests of the founders of Samourai Wallet on charges of money laundering, as well as the arrest of Tornado Cash co-founder Roman Storm on allegations of money laundering and sanctions violations, have raised red flags within the cryptocurrency ecosystem.</p>
 <p>These legal actions have put privacy-focused wallet developers under increased scrutiny from regulatory authorities, who are concerned about the potential misuse of these tools for illicit activities such as money laundering.</p>
 <p>While privacy-focused wallets offer <a rel="noopener noreferrer nofollow" title="users" href="https://thebittimes.com/tag/users.html">users</a> enhanced anonymity and security when transacting in cryptocurrencies, they have also attracted attention from law enforcement agencies seeking to crack down on illegal activities in the crypto space.</p>
 <p>By proactively restricting access to users from the United States, zkSNACKs aims to mitigate any potential legal risks and ensure compliance with relevant regulations.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/wasabi-wallet-developer-bars-u-s-users-amidst-regulatory-concerns-tbt86914.html">https://thebittimes.com/wasabi-wallet-developer-bars-u-s-users-amidst-regulatory-concerns-tbt86914.html</a></p>

Wasabi Wallet developer bars U.S. users amidst regulatory concerns

Table of Contents

TheBitTimes

Other articles published on Apr 29, 2024

Spot Bitcoin and Ethereum ETFs Set to Debut in Hong Kong

Is It Too Late To Buy GLM? Golem Price Soars 14% As This Fresh Solana Casino Token Grabs Attention

Why Russia Imposed Ban On Cryptocurrencies?

Australian Securities Exchange Gears Up To List Spot Bitcoin ETFs This Year

6 Hidden Crypto Gems Ready For Breakout Post Bitcoin Halving

Interview with Midasys Marketing Manager Lily Lee

Join our free newsletter for daily crypto updates!