ACINQ's Phoenix Wallet and zkSNACKs' Wasabi Wallet have decided to discontinue offering services to customers in the United States due to recent regulatory actions against self-custodial cryptocurrency wallet providers. Both companies expressed concerns about the legitimacy of self-custodial wallet providers as money service businesses following the crackdown on Metamask and Samourai Wallet.

zkSNACKs announced on April 27 that it would no longer allow US users to access its services in response to announcements from US authorities. ACINQ also raised doubts about the regulatory status of Lightning service providers and Lightning nodes in light of recent developments.

ACINQ has set a deadline of May 2 for Phoenix Wallet users to make necessary adjustments, while Wasabi Wallet's new policy is effective immediately. The company advised Phoenix Wallet users to empty their wallets to avoid significant on-chain fees.

Recent global regulations have highlighted concerns about self-custody crypto wallets being used for illicit activities like money laundering. Consensys received a Wells notice from the SEC regarding potential enforcement actions related to its MetaMask products, while the founders of Samourai Wallet are facing charges brought by the US Department of Justice.

European regulators have taken a more lenient approach to regulations on self-custody wallets, removing a proposed limit on crypto payments from self-hosted wallets under new anti-money laundering laws. However, exchanges are still required to conduct identity verification checks on users for transactions over a certain amount.