This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Wallet of Satoshi, a popular wallet for Bitcoin’s Lightning Network, has announced that it will no longer support customers in the United States. The app has been removed from the U.S. Google and Apple stores. The company stated that this decision was made in order to prioritize the safety and interests of its customers and the company itself. However, Wallet of Satoshi hopes to resume operations in the U.S. in the future. U.S. users will still have access to their funds and can continue to make transactions and withdrawals. The move has led to speculation that the decision is a response to U.S. regulations. Wallet of Satoshi is a custodial wallet, which means that it centrally holds and manages funds on behalf of its customers. This centralized and custodial model puts the company at risk of regulatory enforcement. It is worth noting that the app is still available on international versions of the Google and Apple stores, suggesting that the stores did not impose a ban. The app recently experienced high volumes, handling over 1.1 million Lightning transactions in November.