Google also posted new guidance for the UK and the European Union. It appears Google first posted the announcement last month, with the new guidelines set to officially take effect on Oct. 29. For a moment it appeared Google’s Play Store planned to ban unregistered non-custodial crypto wallets in several countries, including the U.S. and UK, starting in October. Then the internet giant posted to X a clarification that it does not intend to restrict non-custodial wallets.
“Non-custodial wallets are not in scope of Google Play’s Cryptocurrency Exchanges and Software Wallets Policy. We are updating the Help Center to make this clear,” the company said in a reply to a story posted by The Rage, the media outlet to first to report the planned ban. The suggested ban met with harsh criticism on X.
In a blog post, Google appeared to have issued new affecting the crypto wallets, saying “cryptocurrency exchanges and software wallets can only be published … if the app complies with local laws and industry standards.” The post also said that in the U.S., developers “must be either (a) registered with FinCEN as a Money Services Business and with a state as a money transmitter or (b) a federal or state chartered bank entity.”
