one have any tin-foil hat conspiracy theories why they're leaving? Are dark market entities starting to use the Lightning Network for more privacy?
no need for conspiracy theories.. if you do your research you can find facts, not theories..
WoS does more then just a 'wallet' would. they offer other services too.. so WoS is not just a wallet its a money service business(MSB) also they are a VASP Virtual asset Service Provider
then look at what american regulations wants MSB and VASPs to do
Overall any companies that are doing business in the USA or connected with USA residents are likely getting more and more nervous about various regulatory hurdles and perhaps even being a kind of atmosphere in which there is nearly no way to win, even if you believe that you are being fully cooperative and compliant.
Likely the USA is going to put itself at various disadvantages in regards to how stringent that they are, yet we cannot be sure how these matters are going to play out, in terms of abilities to try to operate outside of the USA and to NOT get touched by USA regulatory overreach. I am not really sure if Binance's mistake was to enter into the USA with its BinanceUS branch or if the USA might have still continued to pursue Binance in draconian ways, even if they had not established a USA division.
Sometimes it might seem like damned if you do (cooperate and stay in the USA) and damned if you don't, even though if you don't stay in the USA, you might be able to try to hide for a bit longer - yet when any system is getting overly BIG, then US regulators seem to believe that it is fair game for them to regulate it, as if they were the world police. which just is an ongoing phenomena that have greater appearances of desperation in recent times, at least from the perspective of any of us trying to study and figure out what is going on with bitcoin in the USA as compared with other jurisdictions, and even that it seemed that in earlier times (with many incidents between 2013 and 2021), China was the seemingly overbearing regulator, but now the USA seems to be stepping in that role in a variety of ways, even though surely it is interesting to see various extents that some of the jurisdictions seem to be in line with each other and other ways that they seem to not want to align, whether it is aligning with the USA, aligning with China or maybe creating some other alliance.. Does El Salvador count as being somewhat out of the polar sides or not?