Investing.com | Editor Ambhini Aishwarya
Published Nov 24, 2023 03:22AM ET
Today, users of the popular Bitcoin Lightning payment service Wallet of Satoshi (WoS) are finding themselves unable to access the app on both Apple’s App Store and Google’s Play Store in the U.S. This development comes as WoS was approaching a significant milestone, nearing almost 1 million transactions for the month of November. The removal of the app has sparked concerns among the cryptocurrency community, with discussions and speculations emerging on social media platforms.
The sudden disappearance of WoS from major app stores raises questions about its standing in the U.S., especially following online speculations yesterday about a potential ban. Commentators like ck_SNARKs took to Twitter to voice their concerns. Meanwhile, industry observer Kevin Rooke pointed out that WoS was on track to surpass 1.1 million Lightning payments this month, signaling a strong growth trajectory for the service before its unavailability.
Apple (NASDAQ:AAPL) is known for its stringent control over its App Store, imposing a hefty 30% fee on in-app purchases, which has been a point of contention for cryptocurrency applications such as WoS. The tech company is also currently embroiled in legal battles over allegations of anti-competitive practices related to cryptocurrency transactions on iOS devices. A recent lawsuit filed by users of PayPal (NASDAQ:PYPL)’s Venmo and Block’s Cash App accuses Apple of unfair practices concerning crypto transactions.
The cryptocurrency sector is closely watching these developments as they unfold, considering the implications for digital currency services operating within app ecosystems. The situation with Wallet of Satoshi highlights the ongoing challenges that crypto services face in navigating the policies and regulations of tech giants like Apple and Google (NASDAQ:GOOGL).
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com
