GameStop halts crypto wallet service citing 'regulatory uncertainty'

Quick Take

  • Video game retailer GameStop announced it will terminate service of crypto wallets from November.

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.

U.S.-based GameStop made headlines late last year when it announced 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. At the time it appeared GameStop's embracing of crypto could benefit web3 games