29 Apr

The creators of the privacy-focused Wasabi Wallet, zkSNACKs, have chosen to limit access to their services for users in the United States due to recent legal actions and governmental scrutiny.

This action is being taken amid rising worries in the cryptocurrency industry as a result of the arrests of people connected to other wallet services that provide anonymity, like Tornado Cash and Samourai Wallet.

The founders of Samourai Wallet were arrested

Citing recent developments concerning other privacy-focused wallet services, zkSNACKs said in a blog update that it has decided to limit access for residents and citizens of the United States.

Particularly, there are concerns in the cryptocurrency industry following the arrests of Roman Storm, a co-founder of Tornado Cash, and the founders of Samourai Wallet on suspicion of money laundering and violating sanctions.

Regulation authorities, who are worried about the possible abuse of these tools for illegal activities like money laundering, are paying more attention to wallet developers that prioritize privacy as a result of these legal proceedings.

Law enforcement organizations looking to crack down on illicit activity in the cryptocurrency realm have taken notice of privacy-focused wallets, despite the fact that they provide users with more protection and anonymity while trading in cryptocurrencies.

As a proactive measure to reduce any legal risks and guarantee compliance with pertinent rules, zkSNACKs blocks access to users originating from the United States. 

April 2024, Cryptoniteuae

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