Regulatory concerns push GameStop to pull the plug on its crypto wallets. Starting Nov 1st, iOS and Chrome Extension wallets will be removed, prompting users to secure their secret passphrases by Oct 1st.
Gaming retail company GameStop has announced it will remove its digital wallets from the market starting in November, citing “regulatory uncertainty of the crypto space.”
In a notice posted to its website, GameStop said iOS and Chrome Extension wallets will no longer be available starting on Nov. 1, advising users to ensure they have access to their secret passphrases by Oct. 1. The wallets, launched in May 2022, allow users to manage cryptocurrencies and nonfungible tokens, or NFTs.
It’s unclear to which aspects of “regulatory uncertainty” the company was referring. GameStop is headquartered in the United States, where lawmakers and regulators have taken various approaches to tackling the growth of crypto and blockchain. The U.S. Securities and Exchange Commission hasagainst crypto firms in the country, and many court cases between blockchain companies and their executives are ongoing.
Cointelegraph reached out to GameStop for comment but did not receive a response at the time of publication.
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