Phoenix Wallet to be removed from US app stores

[MUGNIA]

Phoenix Wallet is not just a Bitcoin Wallet, it is also a Lightning Wallet, and that is a big problem since Phoenix Wallet opens the channels for you, which also means that those channels are soon going to be cut (or in Lightning Network jargon "closed").

I don't think most users are ging to close them.
It an app becoming unavailable in a store, it's not like suddenly is illegal to use it, if you have it installed you can still do so until it becomes banned and it would be a crime to do so, theoretically you can still install even samurai wallet right now if you have the source code, it's not a punishable offense.

Phoenix is just trying to keep themselves safe, they have a good business going around and jail time when you're making a few hundred thousand is not really attractive, nor is giving away all that money inflow!

What is going to happen with ACINQ channels and even with them, after all they might not be based in the US but still in the EU, so this will be just a breather.

I agree with you, if as long as it's still on our cellphone it can still be accessed, there's no need to worry because indirectly they closed it in the US, right, so there are still other regions that use the apk, as long as there is reasonable use, not illegal i thik all be ok

[MrSpasybo]

So far, it doesn't look like the US government is interested in going after Phoenix Wallet at all. This is simply a precautionary measure the team has taken in order to avoid the same fate as Samourai wallet. Whether or not that will actually work in the end is up for debate.

However, they would definitely like to pick off the crypto wallets from the app stores one by one if they could. As if anyone even stores large amounts of crypto in a mobile phone 

I am concerned about the allegations surrounding Phoenix Wallet and the implications for other crypto wallet applications and the development of the crypto market. I do not use Phoenix Wallet and am not aware of its differences from Trust, Coinbase, SafePal, Exodus... wallets. It seems that the US government is acting very hastily and causing crypto wallet services to be cautious. Acinq's Phoenix Wallet and zkSNACKs' Wasabi Wallet have announced early termination of service to US customers, which could just be the beginning of bigger problems in the future for crypto market. This could be the last dump before the bullrun officially starts.

[Charles-Tim]

I do not use Phoenix Wallet and am not aware of its differences from Trust, Coinbase, SafePal, Exodus... wallets.

Phoenix wallet is a bitcoin lightning wallet.

Trustwallet, Coinbase noncustodial, Safepal and Exodus are all close wallets that you should avoid. They are not lightning bitcoin wallets.

Electrum, Sparrow,  Bluewallet and many other wallets are open source and recommended. Unstoppable and Metamask are good altcoins wallet. Unstoppable is supporting bitcoin.

Phoenix Wallet is not just a Bitcoin Wallet, it is also a Lightning Wallet, and that is a big problem since Phoenix Wallet opens the channels for you, which also means that those channels are soon going to be cut (or in Lightning Network jargon "closed").

I don't think most users are ging to close them.
It an app becoming unavailable in a store, it's not like suddenly is illegal to use it, if you have it installed you can still do so until it becomes banned and it would be a crime to do so, theoretically you can still install even samurai wallet right now if you have the source code, it's not a punishable offense.

Phoenix is just trying to keep themselves safe, they have a good business going around and jail time when you're making a few hundred thousand is not really attractive, nor is giving away all that money inflow!

What is going to happen with ACINQ channels and even with them, after all they might not be based in the US but still in the EU, so this will be just a breather.

I agree with you, if as long as it's still on our cellphone it can still be accessed, there's no need to worry because indirectly they closed it in the US, right, so there are still other regions that use the apk, as long as there is reasonable use, not illegal i thik all be ok

What if they also go after Phoenix on GitHub and took it down? If this is only normal bitcoin wallet with seed phrase backup, it would have been better and people will not think about it, but the channel of a thing will make those Americans to panic and may go for another lightning network wallet.