Several crypto service providers in the United States are experiencing concerns after regulatory actions taken against Consensys and Samourai. As a result, Acinq's Phoenix Wallet and zkSNACKs' Wasabi Wallet have decided to end their services for U.S.-based customers due to restrictions on self-custodial cryptocurrency wallet providers.

Acinq and zkSNACKs expressed worries about the classification of self-custodial wallet providers as legitimate money service businesses following the regulatory crackdown on Consensys and Samourai Wallet. zkSNACKs, prohibiting U.S. users from their services, voiced these concerns on April 27.

Citing recent statements by U.S. authorities, Acinq raised questions about the potential regulation of Lightning service providers and nodes as Money Services Businesses. Acinq has set a deadline of May 2 for Phoenix Wallet users to adapt to the changes, while Wasabi Wallet's new policy took effect immediately.

Recently, there have been concerns that self-custody wallets could be used for illicit activities like money laundering, prompting regulatory actions in the U.S. against providers like Consensys and Samourai Wallet. European regulators, however, have shown more flexibility towards self-custody wallets.

European regulators scrapped a proposed 1,000 euro limit on crypto payments from self-hosted wallets, representing a different approach compared to the U.S. regulations.

In conclusion, Acinq and zkSNACKs no longer offer their Bitcoin wallets to U.S. customers, foreseeing challenges for self-custodial wallet providers to be recognized as legal money service businesses. Phoenix Wallet users have a deadline until May 2 to adjust to the changes. This article provides informative viewpoints and does not constitute financial advice.