Kraken Ends Lightning Network Withdrawals in Germany Amid Regulatory Issues
- Kraken has discontinued support for Lightning withdrawals in Germany due to regulatory issues.
- German customers can no longer use the Lightning Network for faster and more private BTC transactions.
- Kraken removed the 'lnbc' prefix from its list of supported assets for BTC withdrawals in Germany.
- A support agent at Kraken confirmed the removal and mentioned the possibility of bringing back the service.
- Kraken is facing legal issues in the US, with the SEC suing the exchange for operating an unregistered securities exchange.
- Protos reached out to Kraken for comment but had not received a response at the time of publication.
Summary :
Kraken, a popular crypto exchange, has recently ended its support for Lightning Network withdrawals in Germany due to "regulatory issues." The Lightning Network is a decentralized network that allows for faster and cheaper Bitcoin transactions off the main blockchain. Kraken's decision to discontinue this service has raised concerns among German customers who valued the privacy features offered by the Lightning Network. The exchange has not provided a clear explanation or published a statement regarding the change, but a support agent mentioned that they hope to bring back the service once regulatory obstacles are resolved. This move comes as Kraken faces legal challenges in its home country, with the SEC suing the exchange for allegedly operating an unregistered securities exchange. Protos, a news outlet, reached out to Kraken for comment but had not received a response at the time of publication.
Sources :
- Protos
