Trust Wallet has made a comeback on the Google Play Store after being temporarily removed, causing concern among Android users. The crypto company announced the removal on its official page, stating that Google had informed them about the potential action and that they had already submitted an appeal. However, despite awaiting a response from Google, the app was removed. As a result, Android users were advised to download an Android Package Kit (APK) from the Trust Wallet website. The company assured users that their funds were safe and that the iOS App Store and Google Chrome Browser Extension versions were unaffected. Trust Wallet expressed concerns about scammers creating fraudulent applications to impersonate the wallet. Fortunately, by 7:30 a.m. EST, the app was reinstated on the Google Play Store. Trust Wallet’s native coin, Trust Wallet Token (TWT), experienced a 5.2% decline. The removal of Trust Wallet raised concerns among users due to increased regulatory pressure in the U.S. regarding self-custody crypto wallets. Wasabi Wallets recently banned U.S.-based users, citing recent announcements by U.S. authorities without specifying them. This decision came shortly after the Department of Justice (DOJ) charged the founders of Samourai Wallet with money laundering. The future status of self-custody crypto wallets, including Trust Wallet, as money transmitters remains uncertain, which could result in increased enforcement actions.
