Kraken Drops Bitcoin Lightning Support for German Users Due to Regulatory Restrictions
CryptoNewsTerminal Staff13 Sep, 2024
Kraken Drops Bitcoin Lightning Support for German Users Due to Regulatory Restrictions
Kraken, a leading cryptocurrency exchange, has discontinued support for the Bitcoin Lightning Network for its German users. This decision is attributed to regulatory restrictions within Germany, as reported by Decrypt. The Lightning Network, a Layer 2 scaling solution, enhances Bitcoin's transaction speed and lowers fees. Despite its widespread adoption by cryptocurrency exchanges, its availability has now been restricted in Germany. Kraken's decision reflects the ongoing regulatory scrutiny surrounding cryptocurrency operations, particularly in relation to financial regulations.
