Google Confirms Non-Custodial Wallets Exempt From New Crypto App Rules on Play Store
Main Idea
Google will enforce country-specific requirements for cryptocurrency wallet applications on Android devices starting October 29, but non-custodial wallets are exempt from these regulations.
Key Points
1. Google's new policy requires cryptocurrency wallet apps to hold jurisdiction-specific licenses, including MiCA authorization, before distribution in certain markets.
2. Non-custodial wallets are explicitly excluded from Google's Cryptocurrency Exchanges and Software Wallets policy.
3. The policy will be enforced starting October 29, as announced in a company blog post.
4. Android, which runs on over 70% of mobile phones, may see restrictions on self-custodial wallet apps, though some industry experts downplay the impact.
5. Google referred inquiries about the policy to its Help Center, which states that non-custodial wallets are 'out of scope' of the new requirements.
Description
Google’s Play Store policy update for crypto apps sparked concerns over self-custodial wallets before the company said they were exempt.
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