Economy 29-04-2024 17:02 11 Views

Trust Wallet Back On Google Play Store After Temporary Removal

Trust Wallet is reportedly back on the Google Play Store following its temporary removal Monday morning, sparking concern among Android Trust Wallet users.

“Unfortunately, Google has temporarily removed our app from the Play Store,” the crypto company posted to its official X page around 7:00 a.m. EST. “Google notified us of this potential action, and we submitted an appeal weeks ago. However, while awaiting a response from Google to our appeal, Google removed our app anyway.”

Trust Wallet Back Up And Running On Google Play Store

The post warned that Android users looking to use Trust Wallet would have to download an Android Package Kit (APK) from the crypto wallet’s website in light of Google’s removal.

Ok, well that was sorted quickly..! The Android version of the app is back on the Google Play Store

Let’s continue #BUIDLing, checking charts & touching grass

— Trust Wallet (@TrustWallet) April 29, 2024

“​​If you currently have the Android version of the Trust Wallet app, it will continue to work normally, and rest assured, your funds remain safe,” the company’s statement continued. 

The company further noted that those who had uninstalled the app could not download it again until it became relisted by Google. 

While the App Store iOS and Google Chrome Browser Extension versions of Trust Wallet were not affected, the company was concerned scammers could create fraudulent applications impersonating the crypto wallet.

By 7:30 a.m. EST, however, Trust Wallet announced it was back up and running on the Google Play Store.

“Ok, well that was sorted quickly!” the company wrote. “The Android version of the app is back on the Google Play Store. Let’s continue #BUIDLing, checking charts & touching grass.”

As of Monday morning, the crypto wallet’s native coin, Trust Wallet Token (TWT), was down by 5.2%.

Self-Custody Wallets Face Crypto Regulatory Crackdown

The removal of Trust Wallet from the Google Play Store sparked concerns among users amidst increased regulatory pressure in the U.S. to crack down on self-custody crypto wallets.

On Saturday, Wasabi Wallets’ developer zkSNACKs announced a total ban on U.S.-based users of the self-custody wallet.

“In light of recent announcements by U.S. authorities, zkSNACKs is now strictly prohibiting U.S. users from using its services,” the company wrote.

The zkSNACKs coordinator is now blocking U.S. residents and citizens from using its coinjoin service.

— Wasabi Wallet (@wasabiwallet) April 27, 2024

While no direct announcement from U.S. authorities was cited, the decision to prevent U.S. users from accessing Wasabi Wallet services comes just days after the Department of Justice (DOJ) unveiled money laundering charges against Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill.

“The FBI is committed to exposing covert financial schemes and ensuring no one can hide behind a screen to perpetuate financial wrongdoing,” FBI Assistant Director in Charge James Smith said.

It’s currently unclear whether self-custody crypto wallets, such as Trust Wallet, may be designated money transmitters, potentially opening the floodgates for a swath of increased enforcement actions.

The post Trust Wallet Back On Google Play Store After Temporary Removal appeared first on Cryptonews.

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