Google Tightens Rules on Cryptocurrency Apps, Raising Concerns for Developers

Google has implemented a new policy requiring developers of cryptocurrency wallet apps to obtain official licenses in various regions before publishing their applications. This measure affects developers in 15 countries, including the US and the EU. In the US, compliance with Money Service Business (MSB) regulations is mandatory, demanding registration with FinCEN and adherence to stringent AML, CTF, and KYC requirements – a level of obligation exceeding non-custodial wallet requirements under current legal frameworks.