Google Play’s Updated Policy Exempts Non-Custodial Crypto Wallets

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Google Play has introduced new requirements for crypto wallet providers in more than 15 jurisdictions, including the US and the EU, mandating licensing and compliance with “industry standards.” However, the updated policy explicitly excludes non-custodial wallets from these rules.

The changes, set to take effect on October 29, will require US-based developers to register as money services businesses (MSBs) or money transmitters, while those in the EU must obtain crypto-asset service provider (CASP) certification.

In the US, companies registered with FinCEN as MSBs must adhere to strict regulations, including Anti-Money Laundering (AML) programs, potentially expanding Know Your Customer (KYC) measures.

Following criticism from the crypto community, Google clarified on X (formerly Twitter):

“Non-custodial wallets are not covered by Google Play’s Cryptocurrency Exchanges and Software Wallets Policy. We are updating the Help Center to reflect this.”

The clarification reassures developers that self-custody wallets remain unaffected by the new licensing rules.