Wallet of Satoshi has now withdrawn from the U.S. market, but has expressed hope for a potential return.
Wallet of Satoshi (WoS), a popular Bitcoin (BTC) Lightning payment app, has mysteriously disappeared from the US Apple Inc (NASDAQ: AAPL) App Store and Google Play Store. The development comes as the app is on the verge of processing more than 1 million transactions in the month of November.
Satoshi’s missing wallet
Early this morning, users and members of the cryptocurrency community took it with I share my failed attempts to find WoS apps on both major app platforms to the X platform. Users said that instead of finding the app, a message appeared redirecting them to a competing wallet application. However, the app is still available for download on the Australian Apple App Store and the Australian and Singapore Google Play Store versions.
Despite the app’s removal from the U.S. market, industry experts expect November to be Wallet of Satoshi’s “biggest Lightning payments month ever.” According to Kevin LukeWoS, an industry writer and podcaster, expects to process more than 1.1 million Lightning payments this month. These impressive numbers highlight the app’s critical role in facilitating Bitcoin Lightning transactions globally.
To address the confusion surrounding its disappearance, Wallet of Satoshi released a statement about X, explaining that its removal from US app stores was not due to a ban. Instead, the company made the cautious decision to withdraw its services from the U.S. market. The post mentioned that leaving was not an easy choice, and although it did not give a specific reason, it hinted at the possibility of returning depending on ‘future trends’.
Speculation about Satoshi’s missing wallet
Speculation about the app’s withdrawal initially focused on potential regulatory pressure from the United States. Especially considering recent legal actions against cryptocurrency companies like Binance and its former CEO. However, the company said it was a strategic decision driven by its inability or unwillingness to comply with local regulations or laws.
But Apple’s strict controls on in-app payments and a 30% transaction tax have long been barriers to cryptocurrency platforms seeking to enter the App Store. The issue has led to conflict and even legal action, and as Coinspeaker previously reported, disgruntled users of PayPal’s Venmo and Block’s Cash App have filed class action lawsuits against Apple, alleging anti-competitive settlements.
Wallet of Satoshi has now withdrawn from the U.S. market, but the company has expressed hopes for a potential return:
“We hope that future developments will allow us to revisit and resume operations in the United States.”
Existing US users will retain full access to their BTC funds and have the option to transfer those funds to an alternative wallet.
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