Less than a year since launching its NFT marketplace GameStop has decided to stop providig consumers with cryptocurrency wallets.
Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.In what could be a major setback for driving the mainstream adoption of blockchain-powered video games, GameStop has stopped service for cryptocurrency wallets.
The company posted information to its website:"Due to the regulatory uncertainty of the crypto space, GameStop has decided to remove its iOS and Chrome Extension wallets from the market," said GameStop. Service will end as of November 1, the company also said.it was launching an NFT marketplace. With its crypto wallet it sought to allow customers to both store their crypto and NFTs and utilize decentralized apps on the Ethereum blockchain.
So far this year the entire crypto industry, from exchanges to the assets themselves, have faced renewed regulatory scrutiny in the U.S. in the wake of the FTX collapse. There's particular uncertainty over ether's legal status. For years federal regulators have treated the cryptocurrency more like a commodity, which does not require the financial disclosures that security investments do.
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