The tech giant #Google has set new requirements for cryptocurrency applications in the Play Store.
According to them, without licenses, they cannot access the marketplace.
In the USA, official approval is required #FinCEN , while in the EU, compliance with #MiCA is necessary.
Google has updated its rules for listing cryptocurrency applications in the Play Store, prohibiting the publication of custodial wallets and crypto exchanges without official licenses in key jurisdictions. The requirements are published in the official documentation for Google Play developers.
For the USA, the developer must be registered with the Financial Crimes Enforcement Network (FinCEN) of the US Treasury as a money services operator and have a state license or be a banking institution.
For the EU - mandatory authorization as a crypto asset service provider (#CASP) under regulation #MiCA . If the application targets countries on Google's special list, local licensing requirements must be followed. For example:
United Kingdom - registration with the Financial Conduct Authority;
Canada - registration with the Financial Transactions and Reports Analysis Centre of Canada;
Japan - official registration with the Financial Services Agency;
South Korea - reporting by virtual asset service providers (VASP) to the Korean Financial Intelligence Unit;
UAE - license from the Financial Services Regulatory Authority, Virtual Assets Regulatory Authority, or Dubai Financial Services Authority;
Bahrain - permission from the Central Bank;
Switzerland - license from the Financial Market Supervisory Authority;
Hong Kong - Type 1 and 7 licenses from the Securities and Futures Commission;
Thailand - license from the Securities and Exchange Commission;
South Africa - registration with the Financial Sector Conduct Authority; #Новостиизкриптомира #coin