ChainCatcher reported that after months of investigation by the U.S. federal government into Block's compliance practices, Cash App has decided to terminate the Bitcoin transfer feature via user tags, raising concerns among users about the app's risk management capabilities.
Cash App announced in a notice on its help page that it will "stop supporting the sending and receiving of Bitcoin between $cashtags starting December 20, 2024." The company noted that users can still send and receive Bitcoin using the Lightning Network or the Bitcoin blockchain.
An examination of the Wayback Machine in October showed no such notice. Additionally, this change appears to only affect Bitcoin transfers and does not seem to impact other services, such as sending stocks or cash via unique identifiers (cashtags).
