Cash App, a subsidiary of Block, will stop supporting free Bitcoin p2p transfer features in December

2024-12-03 14:39:44

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ChainCatcher news, 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 ability to handle risks.

Cash App announced on its help page that it will "no longer support sending and receiving 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 inspection by the Wayback Machine in October showed no such notification. Furthermore, this change appears to only affect Bitcoin transfers and does not seem to impact other services, such as sending stocks or cash via the unique identifier cashtags.

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