August 14, 2025
5 min read
Ifeoluwa Olalere
Google Play Reassures: Non-Custodial Crypto Wallets Safe Under New Policy
News of Google Play’s policy update initially rattled parts of the cryptocurrency scene. Word spread that the platform was preparing to shut out unregistered non-custodial wallets in several countries, sparking alarm among users. The concern was short-lived, however, as Google took to X to clarify that the assumption was wrong.In Brief
- Google Play clarified its new policy will not affect non-custodial crypto wallets after initial fears in the community.
- From late October, custodial wallet providers in over 15 countries must hold licenses and follow industry standards to stay listed.
- The update also introduces new requirements for developers in the UK and several other unspecified countries.
- In 2018, Google Play banned apps that mined cryptocurrency on devices.
- In 2020, the store removed the Bitcoin Blast game from its official listings.
- In 2021, eight crypto apps were blocked after Google Play said they misled users into paying for a fake cloud mining service.
- Google Play now closely reviews exchange software wallets, tokenized asset distribution apps, and NFT-based gaming content. The latest policy adjustment reinforces Google Play’s position that compliance with national regulations is essential for custodial crypto services operating on its platform. Providers in affected jurisdictions will be expected to demonstrate proper licensing and adherence to recognized practices before being approved for listing.
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Google Tightens Rules for Licensed Crypto Wallets and Exchanges
Google announced in a recent blog update that from late October, new rules will take effect in more than 15 countries, including the United States and European Union nations. Under the update, custodial wallet operators must secure the appropriate licenses and follow recognized industry practices to remain listed on Google Play in the affected regions. However, non-custodial wallets remain outside the scope of these rules. According to Google’s statement, the aim is to ensure that cryptocurrency-related apps meet legal and industry standards in each market where they operate. The company stated that cryptocurrency exchanges and wallet applications would only be permitted in specific jurisdictions if they comply with relevant regulations.Regional Compliance Requirements
In the European Union, developers will need to register as a crypto-asset service providers with the appropriate national authority, in line with the Markets in Crypto-Assets (MiCA) framework. They must also observe any additional rules imposed by individual EU member states, even where those requirements go beyond MiCA’s provisions. In the United States, two main compliance pathways are available. “The developer must be either (a) registered with FinCEN as a Money Services Business and with a state as a money transmitter or (b) a federal or state chartered bank entity.” Google has also set new requirements for developers in the United Kingdom and several other countries.Google Clarifies Policy After Industry Backlash
The announcement initially led to speculation that non-custodial wallets would be targeted, prompting pushback from technology and cryptocurrency figures. Jack Dorsey, co-founder of Twitter (now X), voiced his criticism, describing the update as “terrible” for the sector.In response, Google reiterated that the changes do not apply to non-custodial wallets. The company confirmed that these applications fall outside the reach of its policy for cryptocurrency exchanges and wallet software on Google Play.
A History of Tightening Rules for Crypto Apps
Google Play’s handling of cryptocurrency apps has included a mix of bans and removals over the years:Frequently Asked Questions (FAQ)
Google Play Policy Update
Q: Will Google Play ban non-custodial crypto wallets? A: No, Google Play has clarified that its new policy updates will not affect non-custodial crypto wallets. Q: What type of crypto wallets are affected by the new Google Play policy? A: The new policy specifically targets custodial wallet providers. These providers must obtain the necessary licenses and adhere to industry standards to remain listed on Google Play in over 15 countries. Q: Which countries are affected by the new Google Play policy for custodial wallets? A: The policy affects over 15 countries, including the United States and various European Union nations. Q: What are the requirements for custodial wallet providers in the EU? A: In the EU, custodial wallet providers must register as crypto-asset service providers with their national authority, following the MiCA framework, and comply with any additional national regulations. Q: What are the compliance pathways for custodial wallet providers in the US? A: In the US, developers must either be registered as a Money Services Business with FinCEN and a state money transmitter, or be a federally or state-chartered bank entity. Q: Have there been previous issues with crypto apps on Google Play? A: Yes, Google Play has a history of removing or banning crypto apps, including those that mined cryptocurrency on devices, misled users, or violated other policies.Crypto Market AI's Take
This clarification from Google Play is a positive development for the broader crypto ecosystem, particularly for users who value the self-sovereignty offered by non-custodial solutions. While regulatory compliance for custodial services is a necessary step towards mainstream adoption, it's crucial that platforms maintain accessibility for decentralized applications. Our platform, Crypto Market AI, is committed to providing a secure and compliant environment for all users, whether they prefer custodial or non-custodial services, offering tools for advanced trading and market analysis that leverage AI for insights. We understand the importance of navigating complex regulatory landscapes, and our AI-driven solutions aim to simplify this for our users.More to Read:
Originally published at Cointribune on Thu, 14 Aug 2025 13:05:00 GMT