United

Bitcoin

Impact

<img decoding="async" width="1200" height="800" src="https://coingape.com/wp-content/uploads/2020/01/Bitcoin-BTC-Privacy.png" class="attachment-full size-full wp-post-image" alt="Bitcoin BTC Privacy" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2020/01/Bitcoin-BTC-Privacy.png 1200w, https://coingape.com/wp-content/uploads/2020/01/Bitcoin-BTC-Privacy-300x200.png 300w, https://coingape.com/wp-content/uploads/2020/01/Bitcoin-BTC-Privacy-768x512.png 768w, https://coingape.com/wp-content/uploads/2020/01/Bitcoin-BTC-Privacy-1024x683.png 1024w, https://coingape.com/wp-content/uploads/2020/01/Bitcoin-BTC-Privacy-272x182.png 272w" sizes="(max-width: 1200px) 100vw, 1200px">
zkSNACKs, the developer behind the Bitcoin privacy-focused Wasabi Wallet, is ceasing its coinjoin coordination service in the United States. The implementation is effective from June 1st, 2024. The company announced this on its<a rel="nofollow" href="https://blog.wasabiwallet.io/zksnacks-is-discontinuing-its-coinjoin-coordination-service-1st-of-june/"> blogpost.</a> 
<h2 id="strong-coinjoin-and-zksnacks-decision-strong">CoinJoin and zkSNACKs’ Decision</h2> 
The company’s decision is prompted by the <a href="https://coingape.com/zksnacks-bans-us-customers-over-regulation-concerns/">regulatory environment</a> which necessitated the reassessment of its effort to enhance Bitcoin’s privacy. zkSNACKs, had pioneered promotion of privacy in Bitcoin transactions through its Wasabi Wallet. 
Specifically, the<a href="https://coingape.com/web-stories/bitcoins-top-7-open-source-projects-shaping-2024s-future/"> coinjoin coordination</a> service being discontinued is a method that combines multiple Bitcoin transactions into a single one, making it harder to trace individual transactions on the blockchain. 
While it’s a key component in enhancing Bitcoin’s privacy, the current U.S. regulations climate demands greater certainty before proceeding. This stricter rules is responsible for zkSNACKs’ decision to withdraw the coinjoin coordination service. 
zkSNACKs’ statement indicated that the decision was a tough one as the company has always sought to operate with legal clarity. Regardless of the coinjoin coordination service shutdown, Wasabi Wallet will continue to function as a regular Bitcoin wallet.&nbsp; 
Therefore, users can generate private keys to send and receive Bitcoin. 
<h2 id="strong-impact-on-wasabi-wallet-users-strong">Impact on Wasabi Wallet Users</h2> 
According to the company, even without coinjoin, Wasabi Wallet’s client-side filtering architecture, Tor integration, and custom coin selection features make it the most private light wallet available. However, without coinjoin, achieving complete privacy on the Bitcoin blockchain becomes more challenging. 
This change will impact Wasabi Wallet users as well as those of other wallet clients that connect to the zkSNACKs coordinator, like<a href="https://coingape.com/trezor-wallet-integrates-solana-and-spl-tokens/"> Trezor Suite</a> and BTCPayServer. 
Although coinjoin coordination will no longer be a part of Wasabi Wallet, the wallet itself, being free and open-source, will continue to be maintained and developed. zkSNACKs restated its commitment to funding the continuous maintenance of Wasabi Wallet’s basic features. This is to allow the open-source community to contribute, open issues, submit pull requests, or even fork the project if desired. 
zkSNACKs launched the Wasabi Wallet in 2018 to address the issue of privacy in Bitcoin. Analysts say through years of research and perseverance, they demonstrated that Bitcoin could be used in a more private and sovereign manner. 
The post <a href="https://coingape.com/bitcoin-focused-wasabi-wallet-developer-zksnacks-is-leaving-the-us/">Bitcoin-Focused Wasabi Wallet Developer zkSNACKs Is Leaving The US</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin-Focused Wasabi Wallet Developer zkSNACKs Is Leaving The US

Table of Contents

Coingape News Media

Other articles published on May 2, 2024

Over $22 Million Raised In BlockDAG’s Batch 10 Presale Attracting Attention From Solana Trader & ...

At Which Level Will the Bitcoin Price Decline End? Experienced Analyst Shares His Views

DeFi TVL Plunges $10B: Avalanche & Solana Lead Losses

IQVIA Reports Revenue Growth to $3.74 Billion in Q1, Beats Forecasts

Ethena and Doge Experience Huge Losses, Could DTX Presale be the Saving Grace for Crypto Investors?

Hong Kong Bankers’ Guide to the Middle East

Join our free newsletter for daily crypto updates!