Google Takes a Bold Stand on Cryptocurrencies in Play Store
Main Idea
Google has updated its Play Store policies to require cryptocurrency wallet developers to comply with AML/KYC regulations in the U.S. and MiCA regulations in the EU, impacting non-custodial wallets.
Key Points
1. Google Play Store now mandates that cryptocurrency wallet developers in the U.S. must register as a Money Services Business with FinCEN and comply with AML/KYC regulations.
2. In the EU, developers must register as a Crypto Asset Service Provider (CASP) under MiCA and meet all regulatory requirements.
3. Non-custodial wallet developers are banned from the Play Store in the EU due to FATF-mandated AML rules.
4. The policy changes have led to a drop in ETH price by approximately $70 in the U.S. market.
Description
Google updates crypto wallet policies on Play Store, affecting non-custodial wallets. Developers need specific financial licenses to list applications in the U.S. Continue Reading: Google Takes a Bold Stand on Cryptocurrencies in Play Store The post Google Takes a Bold Stand on Cryptocurrencies in Play Store appeared first on COINTURK NEWS .
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