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Phoenix Bitcoin Wallet Shifts Away From US Jurisdiction
Hello valued Phoenix Wallet users! We have some important news to share with you. Our team is advising all users based in the US to safely withdraw their funds to another secure location. The services of Phoenix Wallet will soon be unavailable in the US jurisdiction.
Phoenix Wallet is known for its user-friendly interface and secure Lightning network for Bitcoin payments. Managing your Bitcoin funds with Phoenix Wallet is not only easy but also safe and secure.
On 27 April 2024, a notice was issued for all US-based customers to withdraw their funds from Phoenix Wallet as the application will be removed from the app store on 3 May 2024.
We understand that the reasons behind Phoenix Wallet’s departure from the US jurisdiction are unclear at the moment. However, there have been reports linking this situation to the recent arrest of executives from Samourai Wallet.
Notable Bitcoin advocate and CEO of Block, Jack Dorsey, has shared his thoughts on this matter, expressing his disappointment in the decision.
In response to the speculation surrounding Samourai Wallet, Dorsey clarified that there is no direct link between the two cases.
Considering the regulatory challenges faced by US-based crypto companies in Q1 2023, the recent events concerning Phoenix Wallet could have a significant impact on the ongoing Bitcoin market trends.
Experts suggest that such moves by prominent Bitcoin-focused entities may have adverse effects on the current Bitcoin bull run.
