Google has overhauled its Play Store developer policy, mandating that cryptocurrency wallet apps offered in the United States register as Money Services Businesses with the Financial Crimes Enforcement Network or operate as federally or state-chartered banks. In the European Union, developers must obtain a Markets in Crypto-assets (MiCA) licence from a national regulator. The rules, dated 13 August 2025, cover 15 jurisdictions and apply to both custodial and non-custodial wallets. Industry lawyers say the inclusion of non-custodial, or “unhosted,” wallets marks a departure from existing U.S. guidance, which generally exempts such software from money-transmitter obligations. Meeting FinCEN and MiCA compliance would require full anti-money-laundering, counter-terrorist-financing and know-your-customer programmes—costly measures that smaller, open-source projects are unlikely to afford—effectively forcing many non-custodial wallets out of the Play Store. Google says the tighter requirements aim "to ensure a safe and compliant ecosystem for users." Developers and digital-rights advocates counter that the company is using its market power to impose obligations that exceed statutory demands, a move they warn could push users toward unofficial app downloads and increase security risks. The policy comes as global regulators and the Financial Action Task Force intensify scrutiny of crypto-asset services.