Michaela
Summary: Does the Google Play new crypto wallet rules affect non-custodial apps?
No, the updated rules do not apply to non-custodial wallets. Developers of custodial wallets must obtain proper licensing and comply with industry standards in certain regions. Non-custodial apps can continue operating without these new requirements.
Google’s official digital store, Google Play, has revised its policy to require crypto wallet providers to obtain proper licensing and adhere to “industry standards,” though the changes will not impact non-custodial wallets.
The updated policy, set to take effect on October 29, requires U.S. developers to register with local regulators as either a money services business or money transmitter, while developers in the EU must register as a crypto-asset service provider (CASP).
“Non-custodial wallets are not in scope of Google Play’s Cryptocurrency Exchanges and Software Wallets Policy,” the policy stated.
Google also clarified that developers targeting regions not included in the list may continue to publish cryptocurrency exchanges and software wallets. However, given the rapidly changing global regulatory environment, developers are expected to secure any additional licenses required by local laws. Google Play may additionally request further documentation to verify compliance in jurisdictions not specifically listed.
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Google further explained that developers must indicate whether their app functions as a cryptocurrency exchange or software wallet in the Financial Features Declaration. Apps targeting specific countries or regions on the list will receive location-specific forms to complete. If developers lack the necessary registration or licensing for certain jurisdictions, they are advised to remove those locations from their app’s target regions.
As the cryptocurrency sector continues to expand, the evolving regulatory landscape spotlights the growing importance of compliance for app developers and platform operators alike.
These policy updates signal a broader trend in which major tech companies are taking an active role in ensuring that digital finance tools meet legal and industry standards, aiming to protect both consumers and the integrity of the market.
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For developers, this means staying vigilant, adapting to shifting requirements, and implementing robust compliance frameworks to operate smoothly across multiple jurisdictions. At the same time, users benefit from enhanced transparency and accountability, fostering greater confidence in the apps and services they choose to engage with.
While regulatory measures can introduce new operational complexities, they also create an environment where innovation and security coexist. As the sector matures, the collaboration between regulators, platforms, and developers will be key to sustaining sustainable growth, user trust, and the long-term credibility of crypto applications.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
