Google Play announced an update to its policy for apps with custodial cryptocurrency services. Starting October 29, 2025, app developers that store and manage users' funds must obtain relevant licenses in more than 15 jurisdictions, including the USA and EU. In the USA, this will require registration with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business or obtaining a banking license. In the EU, developers must obtain the status of Crypto-Asset Service Provider (CASP) under the MiCA regulation. These measures aim to enhance transparency and protect users, however, they do not apply to non-custodial wallets where users control their keys.
After initial community concerns regarding a potential impact on non-custodial wallets, Google clarified that these apps are exempt from the new requirements. The update in the Help Center documentation confirmed this decision, which is a victory for decentralization advocates. At the same time, custodial services, such as exchanges, will face additional regulatory barriers.
This change reflects a global trend towards increased regulation of the crypto industry and may affect the availability of apps on Android, which is used by more than 70% of smartphones.
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