- Google Play enforces new licensing for crypto apps.
- Impact on non-custodial wallet distribution in US, EU.
- Shift expected for crypto app markets.
Google Play has introduced a policy requiring crypto wallet app developers to hold banking or money services licenses in the US and EU, applicable from October 29, 2025.
This significant policy shift could challenge non-custodial wallet developers, potentially freezing numerous apps and impacting market access and growth for crypto platforms like Ethereum and Bitcoin.
Google Play has introduced a policy necessitating all crypto wallet developers to hold banking or money services licenses in the US and EU. This rule effectively bans non-custodial wallet apps from the Play Store in these regions starting October 2025.
The rule applies to at least 15 jurisdictions, demanding compliance with federal agencies such as FinCEN in the US and MiCA in the EU. Google Play’s decision affects many developers lacking these licenses.
Immediate impacts include potential barriers for mobile-first crypto wallet providers, as acquiring necessary licenses can be costly. Funding and grants for such projects could face significant constraints.
The policy is expected to impact cryptocurrencies like ETH and BTC, which depend on app-based user adoption. Reduced access may lead to lower onboarding for decentralized finance (DeFi) users.
Developers might explore alternative methods such as web-based wallets or desktop options. Community reactions could drive innovation in regulatory compliance.
Historically, similar restrictions, like the App Store’s limitations on NFT and wallet apps, resulted in initial declines in app usage but later adaptations in distribution models. Long-term effects may include a shift towards regulatory engagement. In the words of @rovercrc, a Crypto Market Analyst, “Google Play Store has banned crypto wallet apps in the United States and the European Union unless developers hold a federal license, which would materially restrict mobile wallet distribution if accurate.“
