Google Play Updates Policy for Crypto Wallet Apps
Google Play implement fresh guidelines for crypto wallets, exempting non-custodial apps from specific regulations
Starting October 29, 2025, Google Play has introduced new regulations for crypto wallet developers. According to the updated policy, custodial wallet providers must obtain appropriate licenses such as FinCEN registration as a Money Services Business (MSB) in the U.S., state money transmitter licenses, or a MiCA license in the EU, to publish their apps on the Play Store.
This regulatory requirement applies to developers distributing apps in 15 jurisdictions, including the U.S. and EU. The policy is designed to address wallets that hold or control users' funds, triggering these regulatory requirements.
On the other hand, non-custodial crypto wallet developers—whose apps do not hold user funds or private keys—are exempt from these licensing requirements. This means non-custodial wallets, where users retain sole control over their private keys and funds, can remain on the Play Store without the need for FinCEN, MiCA, or state banking licenses.
The initial confusion and criticism, due to perceived inclusion of non-custodial wallets, has been addressed by Google. The tech giant officially stated that non-custodial wallets are out of scope and updated their Help Center to reflect this.
The updated policy aims to protect consumers and the integrity of the market. Developers must indicate whether their app functions as a cryptocurrency exchange or software wallet in the Financial Features Declaration. Compliance efforts will introduce operational complexities but will also create an environment where innovation and security coexist.
As the sector matures, the focus on compliance and collaboration will likely continue to shape the crypto industry's development. The collaboration between regulators, platforms, and developers will be crucial for the sustained growth and credibility of the crypto industry.
Apps targeting specific countries or regions on the list will receive location-specific forms to complete. Developers are expected to stay vigilant, adapt to shifting requirements, and implement robust compliance frameworks to operate smoothly across multiple jurisdictions.
In jurisdictions not specifically listed, developers are expected to secure any additional licenses required by local laws. Google Play may request further documentation to verify compliance in these regions. Major tech companies, including Google Play, are taking an active role in ensuring digital finance tools meet legal and industry standards.
The evolving regulatory landscape underscores the need for developers to be aware of and comply with legal standards in various regions. Enhanced transparency and accountability benefit users, fostering greater confidence in the apps and services they choose to engage with. The updated policy does not apply to non-custodial wallets.
In summary, custodial wallet developers face stringent licensing and regulatory compliance before listing their apps on Google Play, while non-custodial wallet developers are exempt from such licensing requirements under the current policy. The collaboration between regulators, platforms, and developers is key to sustaining sustainable growth, user trust, and the long-term credibility of crypto applications.
- In the updated Google Play policy for crypto wallet apps, non-custodial wallet developers are exempt from obtaining licenses such as FinCEN registration or MiCA,since their apps do not hold user funds or private keys.
- As the crypto industry continues to mature and collaborate with regulators, platforms like Google Play are taking an active role in ensuring digital finance tools, including technology-driven wallets, meet legal and industry standards, promoting security and integrity in the market.
