Google Play Store's crypto wallet policy a Game-Changer for Developers

The new rule came out in Google Play Store's crypto wallet policy. The Play store is banning all software wallets whose developers do not have FinCEN registration, state banking licence or MiCA licence. The new rule will be effective from 29 October 2025. It applies to 15 jurisdictions, including the United States and the European Union.  Non custodial will not be included in this guideline change.

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The regulation applies to both cryptocurrency exchanges and software wallets, regardless of whether the provider holds customer funds. According to Google Play Store's crypto wallet policy note to ensure a safe ecosystem for users it has established specific guidelines for the publication of cryptocurrency exchanges and software wallets.

Google Play Store's crypto wallet policy Clarifies Non-Custodial Wallets Exemption

Initially, confusion spread across the community, when The Rage, the media outlet company reported the ban of non custodial wallets. The community reacted and criticized many believing the rules also applied to non-custodial wallets—apps where users control their own keys.

Source: X

But later they replied to the X post and Play Store guidelines made clear statements and added a note that Non custodial wallets are not in the scope.

Which Countries/Regions would be affected and what will be the Legal Guidelines

Google Play Store's crypto wallet policy legal guidelines now demands different licence and registrations from different Nations. Here are the brief list below:

• The United States: FinCEN as a Money Service Business and with states as a money transmitter or a federal or state chartered bank entity.

• United Kingdom: Financial Conduct Authority (FCA)

• The United Arab Emirates: the Financial Services Regulatory Authority (FSRA), the Virtual Asset Regulatory Authority (VARA) or the Dubai Financial Services Authority (DFSA).

• European Union : Markets in CryptoAssets (MiCA) regulations.

Source: Website

Additionally, Google Play Store's crypto wallet policy has requested the cryptoexchanges in the European market to register with the respective local requirements to publish.  Other nations impacted by the change include Thailand, Switzerland, South Korea, the Philippines, Japan, Israel, Indonesia, South Africa, Hong Kong, Canada, and Bahrain. They may also request you to provide further information regarding your compliance in a given jurisdiction which are not listed.

Google Play Store's crypto wallet policy Aligns With Rising Digital Asset Adoption

The requirements come as digital assets gain mainstream adoption. Bitcoin reached an all-time high of $123,000 in August 2025, and stablecoins are increasingly used for payments and remittances worldwide. However, due to the rapidly evolving regulatory landscape worldwide, developers are expected to obtain any additional licensure requirements per local laws. This could lead to broader adoption of Know Your Customer checks and other measures.

Google Play Store's crypto wallet policy Aims to Reduce Scams and Security Risks

This move could lead in reducing the phishing scams, hacks and cyber security concerns regarding personal data and funds. The search engine company has taken legal actions and rampant the scams previously also. The ultimate impact will depend on how developers, users, and regulators respond to this intersection of platform control and financial technology regulation.