Google Play Tightens Regulations on Crypto Wallet Apps in Major Markets

Google Play has implemented a stringent new policy requiring crypto wallet apps in 15 key regions—including the U.S. and EU—to obtain government-issued licenses to remain listed. The mandate spans both custodial wallets and non-custodial software wallets offering storage or transfer functionalities.

Licensing hurdles are substantial: U.S. developers must register as Money Services Businesses with FinCEN or secure state/federal banking charters, while EU apps need MiCA compliance as Crypto-Asset Service Providers. The rules effectively blur lines between decentralized tools and regulated financial services.

Initial confusion erupted when policy language appeared to target non-custodial wallets, sparking backlash across crypto communities. Though clarified later, the MOVE signals growing scrutiny of decentralized finance infrastructure on mainstream platforms.