Google Play’s new rules won’t affect non-custodial crypto wallets

Google Play is tightening the reins on crypto wallet apps, demanding licenses in over 15 regions including the US and EU starting Oct. 29. But here's the kicker: non-custodial wallets get a free pass. No red tape for the self-sovereign crowd.

In the US, devs must register as money services businesses with FinCEN, meaning AML programs are now part of the package. EU? You'll need to be a registered CASP. Google's message is clear: play by the rules, or don't play at all.

After some crypto community uproar, Google clarified on X: 'Non-custodial wallets are not in scope.' So, your keys, your coins? Still cool with Google.

Google's relationship with crypto is... complicated. From banning mining apps in 2018 to axing crypto news apps in 2020 (including Cointelegraph’s), it's been a rocky road. 2021 saw eight 'deceptive' crypto apps get the boot for scamming users with fake cloud services.

Fast forward to 2023, and Google's playing nice with NFT games—as long as they're upfront about it and skip the gambling. Loot boxes? Also a no-go.

Currently, Google Play's radar is on four crypto app types: exchanges and software wallets, crypto wallets, tokenized asset distributors, and NFT gamification. Stay compliant, or stay out.