If you look at all Instagram apps in the store, you'll find there are many Instagram apps designed with a 'camera' icon. We're definitely not the first one.
Do you know 'Pinstagram'? They just changed the name to "Pictacular", and it's based in the US. I dont want to say you're making discrimination over non US-based companies. And I don't think it's right to infringe Instagram brand. If i am not doing right, i am happy to change immediately.