Google Play’s New Licensing Rules Threaten DeFi App Accessibility

Google Play has introduced stringent licensing requirements for cryptocurrency applications, potentially reshaping the DeFi landscape. Starting August 13, crypto exchange and wallet apps must obtain banking licenses or financial service registrations in multiple jurisdictions to remain available on the platform.

The policy affects major markets including the U.S., EU, Japan, and South Korea. U.S. developers must register with FinCEN as Money Services Businesses, while EU operators face MiCA's VIRTUAL Asset Service Provider requirements. Notably absent is any distinction between centralized exchanges and decentralized protocols—a regulatory blind spot that may force unincorporated DeFi projects off the platform.

This MOVE creates a compliance paradox for decentralized applications that lack traditional corporate structures. As app stores increasingly become gatekeepers of financial access, the tension between innovation and regulation reaches new intensity.