Google Play Store will mandate that crypto wallet developers secure banking or money service licenses to publish their applications. Non-custodial wallets without licenses will be removed, particularly impacting users in the EU under MiCA regulations.
The new requirements have sparked debate, with critics arguing that they surpass legal norms, especially since FinCEN’s guidelines from 2019 do not classify non-custodial wallets as money transmitters. This could lead to the removal of many wallet applications.
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