ZkSNACKs To Shut Down CoinJoin Services Amid Regulatory Pressure

According to Foresight News, Max Hillebrand, CEO of zkSNACKs, has announced that the company will shut down its CoinJoin mixing services from June 1. This decision comes in response to increasing pressure from U.S. regulatory bodies and authorities cracking down on privacy tools. The move is aimed at ensuring compliance with the latest U.S. laws and regulatory updates. Despite the closure of CoinJoin, the Bitcoin wallet Wasabi Wallet, developed by zkSNACKs and integrated with CoinJoin services, will continue to operate as a regular Bitcoin wallet. Users will be able to generate private keys to receive and send Bitcoin. However, it's important to note that U.S. users will be prohibited from using the Wasabi Wallet.