Trezor to end privacy-enhancing coinjoin feature as Wasabi Wallet steps back

fiverr
Trezor to end privacy-enhancing coinjoin feature as Wasabi Wallet steps back
Coinmama


Share this article

Crypto hardware wallet manufacturer Trezor announced today the discontinuation of the coinjoin feature in its Trezor Suite. The service, provided in partnership with zkSNACKs, the developer of the Wasabi Wallet, will cease by June. Despite the shutdown, Trezor assures users that funds within Coinjoin accounts will remain accessible.

Coinjoin is a privacy tool for Bitcoin transactions, allowing users to obscure the origins and destinations of their funds. Trezor was the first hardware wallet to embrace coinjoin transactions. It integrated coinjoin feature into the Trezor Model T in April last year and extended the implementation to the Trezor Model One later in August.

okex

zkSNACKs, in a recent blog post, expressed the decision to end its coinjoin coordination service was made with a “heavy heart” and a need for “legal clarity.” The company said Wasabi Wallet will still offer robust privacy features, such as client-side filtering and Tor integration, even without coinjoin.

The move follows zkSNACKs’ decision to block US citizens and residents from accessing its services, including Wasabi Wallet, due to recent regulatory pressures. This prohibition extends to related websites and services, with IP address blocking already in effect.

Non-custodial crypto service providers face legal showdown

Phoenix, another crypto wallet provider, recently announced it would exit the US market due to ongoing regulatory uncertainties. Users are advised to close their channels and transfer their funds before access is terminated on May 5, 2024.

“Recent announcements from U.S. authorities cast a doubt on whether self-custodial wallet providers, Lightning service providers, or even Lightning nodes could be considered Money Services Businesses and be regulated as such,” Acinq, the Bitcoin company behind Phoenix explained its decision.

The exodus follows the SEC’s recent crackdown on non-custodial wallet provider Samourai Wallet and growing scrutiny over MetaMask. The SEC reportedly issued a Wells Notice to Consensys, MetaMask’s parent company. This notice serves as a preliminary warning that the SEC is considering legal action.

In response, Consensys filed a lawsuit against the SEC, choosing to confront the regulatory challenges head-on rather than await further SEC actions. Previously, Uniswap Labs, the team behind the decentralized exchange Uniswap, also received a Wells Notice from the securities agency.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight – and oversight – of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



Source link

Minersgarden

Be the first to comment

Leave a Reply

Your email address will not be published.


*