IBEX Pay Announces Exit from US Market

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

IBEX Pay, a company specializing in Bitcoin Lightning Network-based payment services, has revealed its decision to withdraw from the American market, effective May 31, 2024. This move is part of a broader trend of increasing difficulties faced by cryptocurrency businesses operating in the United States.

Various recent events, such as the closure of Samourai Wallet and AgoraDesk, as well as the legal actions against individuals working in the cryptocurrency sector, demonstrate the challenging environment for privacy-focused initiatives within the US. Notably, IBEX Pay provided users with a convenient way to conduct Bitcoin payments using the Lightning Network and facilitated payment solutions for businesses.

The decision to suspend services in the US stems from careful deliberation, reflecting the company's concerns over potential regulatory risks. In contrast, countries like Switzerland and El Salvador have embraced more favorable regulatory approaches towards cryptocurrency innovation. These developments may lead users to seek alternative solutions that prioritize autonomy, such as LNBits or BTCPay.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

NEAR Protocol Achieves 50 Million Operations Milestone

chest

NEAR Protocol's chain abstraction infrastructure has surpassed 50 million lifetime operations, marking a significant achievement in simplifying multichain crypto interactions.

user avatarArif Mukhtar

Solana Sees Significant RWA Inflows

chest

Solana has recorded $348 million in net inflows of real-world assets over the past 30 days, increasing its tokenized RWA value to $720 million.

user avatarMaria Gutierrez

Aave Governance Considers Emergency Powers to Protect Users

chest

Aave governance is considering a proposal to grant emergency powers to guardians to freeze vulnerable lending pools during security threats.

user avatarDavid Robinson

Router Protocol Users Must Move Assets During Grace Period

chest

Router Protocol users must take action during the grace period to bridge assets back to origin chains before relayer nodes are disconnected.

user avatarJacob Williams

Arbitrum Proposes Disqualification of Three DeFi Protocols from Future Grants

chest

A new governance proposal by Arbitrum aims to disqualify three DeFi protocols from future DAO grant allocations due to alleged reporting failures and misuse of prior incentives.

user avatarAndrew Smith

Router Protocol to Shut Down Crosschain Network and Burn 303 Million Tokens

chest

Router Protocol has announced a deprecation plan to shut down its crosschain messaging network and burn 303 million ROUTE tokens due to unsustainable maintenance costs.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.