Post
Topic
Board Legal
Re: Is the Bitcoin Lightning Network banned in Europe?
by
stompix
on 30/11/2023, 12:35:12 UTC
"Wallet of Satoshi has removed itself from the U.S. Apple and Google app stores, confirming it will not serve customers in the country going forward.
The popular Bitcoin Lightning app did not specify the reason for the decision but sought to assure existing customers in the U.S. that their funds were safe and available to transfer to another wallet."

It has nothing to do with LN.
The thing everyone fails to mention here is that it wasn't just a lighting wallet, you could also buy coins with cash without kyc directly from the wallet, that was their money maker move, if they wouldn't have had  that they could have just left the wallet alone free in the wild, after all it's just a piece of software, right? But saying that out loud would hurt their image, right?

Do you think that Europe will not regulate the Lightning Ecosystem yet?

They don't care about LN and they won't!

First any amendments major to MICA would need again all the legal steps and since it's an general financial regulation it would need this time not just an majority in the EU parliament and Council but it will require all those to go through the Commission, and here each country had a veto right.

Second, why would they care, the law covers the entry point and the exit point of LN, since no financial institution that deals with fiat can have its business only on LN, it makes little sense to have it targeted once the gateway is regulated.