PANews, December 3: Block's Cash App announced that it will cease support for Bitcoin peer-to-peer transfers via $cashtags starting December 20, 2024. However, users can still transfer funds through the Lightning Network or the Bitcoin blockchain.
A Cash App spokesperson stated that this move is aimed at concentrating resources on the products and services that Bitcoin users value the most. Reportedly, this decision was made months after U.S. federal investigative agencies raised questions about Block's compliance, but officials deny any connection between the two. Cash App was launched in 2013 and currently has 56 million active accounts, offering services such as Bitcoin trading, stock purchases, and payments.
