Crypto Wallets Face Google Play Ban Without Federal Licenses Across 15 Jurisdictions
The Google Play Store announced on Wednesday a new policy mandating that developers of cryptocurrency wallet applications secure a license before their software can be published.
This policy is particularly focused on 15 jurisdictions, including the European Union (EU) and the United States, and delineates specific regulatory frameworks that developers must adhere to in order to participate in the platform.
Google Tightens Regulations On Crypto Wallets
The new requirements stipulate that developers in the US must register as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) and comply with stringent Anti-Money Laundering (AML), Counter Terrorist Financing (CTF), and Know Your Customer (KYC)…
