Ethereum News Today: Google Play Mandates Licenses for Crypto Wallet Apps in 15 Jurisdictions

Google Play has imposed new licensing requirements on developers of cryptocurrency wallet applications, affecting over 15 jurisdictions, including the United States and the European Union. Under the updated policy, effective October 29, wallet providers must obtain regulatory licenses or registrations to remain on the platform. Developers in the U.S. are required to register with local authorities as either a money services business or a money transmitter, while EU-based developers must register as a crypto-asset service provider (CASP). These measures are intended to align the distribution of crypto wallet services with local financial regulations and industry standards [1].

The policy applies to both custodial and non-custodial wallet providers in the U.S. and EU, eliminating a previous distinction that allowed some non-custodial wallets to operate with less regulatory scrutiny. Developers unable to meet these requirements risk removal from the Google Play Store. The move significantly impacts smaller developers who may lack the resources to navigate complex licensing processes, potentially leading to market consolidation in favor of larger, well-established firms [2].

The announcement coincided with a notable drop in Ethereum's price, suggesting that regulatory uncertainty continues to influence market sentiment. The enforcement of these licensing rules also reflects a broader trend in global crypto regulation, where governments are increasingly integrating digital assets into traditional financial frameworks. In the U.S., regulators such as the SEC have long emphasized the risks of unregulated crypto platforms, and Google’s updated policy may encourage other app store operators to adopt similar compliance measures [1].

End users may see a reduction in the variety of available wallet options, particularly non-custodial solutions that have not secured the necessary licenses. While this could limit accessibility, it may also enhance trust in the crypto ecosystem by ensuring that only regulated and licensed services are distributed through Google Play. The move reinforces the growing convergence between traditional finance and digital assets, as regulatory expectations become more structured and demanding [2].

This development marks a pivotal moment for crypto wallet developers and users, highlighting the increasing importance of compliance, transparency, and regulatory alignment. As governments continue to refine their approaches to digital assets, the industry must adapt to a more formalized and regulated environment [3].

Source:

[1] Forbes, "Google Play Store Requires Government Licenses For Crypto Wallet Apps" (https://www.forbes.com/sites/boazsobrado/2025/08/13/google-play-store-requires-government-licenses-for-crypto-wallet-apps/)

[2] CoinCentral, "Google Blocks Non-Custodial Crypto Wallets from Play Store in Major Regulatory Shift" (https://coincentral.com/google-blocks-non-custodial-crypto-wallets-from-play-store-in-major-regulatory-shift/)

[3] AInvest, "Ethereum News Today: Google Tightens Crypto App Rules Requiring Banking Licenses Play Store Wallets" (https://www.ainvest.com/news/ethereum-news-today-google-tightens-crypto-app-rules-requiring-banking-licenses-play-store-wallets-2508/)