The recent announcement by Wallet of Satoshi (WoS) to withdraw its app from the U.S. Apple and Google app stores and cease serving U.S. customers marks a significant shift in the Bitcoin wallet landscape. This decision reflects the increasingly challenging regulatory environment in the United States, which has affected not only WoS but other crypto service providers as well.
In a similar vein, GameStop, known for its video game retailing, terminated its crypto wallet service due to the uncertain regulatory climate in the U.S. Launched just a year prior, this service was integrated with Ethereum’s layer-2 scaling protocol and allowed users to hold, trade crypto, and access decentralized apps. However, unspecified regulatory uncertainties, likely related to the intensified scrutiny by U.S. authorities like the SEC and the Commodity Futures Trading Commission, led to its discontinuation.
Regulatory Pressures on Crypto
The U.S….
