Google Play Store Update Policy Bans Unlicensed Cryptocurrency Wallets

Opinion Network: August 14, Google's Google Play app store updated its policy on cryptocurrency wallets, requiring any developer to provide federal licensing before publishing a cryptocurrency wallet application.

The company notes that the new rule will apply to the US, where cryptocurrency wallet applications must be registered with FinCEN as money service businesses (MSB) and hold an MiCA license (cryptocurrency market regulation) in the EU. This updated policy will also affect 13 other judicial jurisdictions. Additionally, Google's revised rules apply to both hosted and non-hosted software to ensure a safe and compliant ecosystem for users.

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