Google is cracking down on unlicensed crypto wallets.
Starting now, wallet app developers in 15 markets including the US and EU - must hold formal banking or money services licenses to stay listed on Google Play.
This applies to both custodial and non-custodial wallets, with no exceptions.
In the US, that means FinCEN registration and state money transmitter licenses or a bank charter. In the EU, it means a MICA license as a crypto-asset service provider. The move mirrors growing regulatory pressure worldwide, potentially reshaping the mobile wallet landscape.
