Cash App will stop fee-free peer-to-peer Bitcoin transfers starting December 20

Cash App, owned by Block, announced that it will end support for peer-to-peer transfers of Bitcoin through cashtags starting December 20, 2024, but users can still transfer money through the Lightning Network or the Bitcoin blockchain. A Cash App spokesperson said the move was to focus resources on products and services that Bitcoin users value most. It is reported that the decision was made months after the US federal investigation agency questioned Block's compliance, but officials denied the connection between the two. Cash App was launched in 2013 and currently has 56 million active accounts, providing services such as Bitcoin trading, stock purchases and payments.