News View Non-AMP

Google Play Store Cracks Down on Illegal Crypto Wallets and Exchanges

Published by
Steve Muchoki

Google Play Store has established new tighter rules for publishing crypto exchanges and wallets in different jurisdictions. The massive app ecosystem unveiled the new measures for specific jurisdictions to facilitate legal compliance and consumer protection.

According to the announcement, crypto exchanges and wallets seeking to publish on the Google Play store must first comply with local laws. However, the Google Play Store will allow crypto exchanges and wallets to publish in jurisdictions without specific regulations.

List of Regions Crypto Exchanges and Wallets Must Obtain a License to Publish on Google Play Store

Google Play Store has urged crypto exchanges and wallets in the United States to register with FinCEN as a Money Service Business and with states as a money transmitter. The company has urged crypto exchanges and wallets in the United Kingdom to register with the Financial Conduct Authority (FCA).

In the European Union, Google Play Store expects crypto exchanges and wallets to be registered under the Markets in Crypto-Assets (MiCA) regulations. Additionally, the Google Play Store has urged the crypto exchanges and wallets in the European market to register with the respective local requirements to publish.

Other nations impacted by the Google Play store policy change include Thailand, the United Arab Emirates, Switzerland, South Korea, the Philippines, Japan, Israel, Indonesia, South Africa, Hong Kong, Canada, and Bahrain.

What’s the Expected Market Impact

Google Play Store is a major gateway to mainstream adoption of web3 products. However, the platform has facilitated crypto phishing scams, whereby cybersecurity experts have reported applications impersonating popular DeFi protocols such as PancakeSwap, SushiSwap, HyperLiquid, and Raydium, among many others.

Google has taken several measures to curb the rampant scams in the past including legal action. The recent crypto app policy will play a crucial role in reducing phishing scams, especially amid the ongoing mainstream adoption of digital assets by institutional investors.

Steve Muchoki

Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

Recent Posts

Stripe and Paradigm Announces New L1 Chain Focused on Stablecoins Dubbed Tempo

Paradigm has announced the launch of a new layer one (L1) blockchain dubbed Tempo. According…

September 5, 2025

XRP May Hit $10, Yet Ozak AI’s Early Backers See Life-Changing ROI Ahead

Crypto markets are buzzing once again as assets like XRP capture attention with bold price…

September 4, 2025

Breaking: World Liberty Finance Blacklist Justin Sun’s $2.4B WLFI Triggering Price Rebound

World Liberty Financial, a fast-growing DeFi project backed by U.S. President Donald Trump, has blacklisted…

September 4, 2025

Tether Mints $2B USDT On Ethereum: Buying the Crypto Dip or Exit Liquidity

Tether, the largest stablecoins issuer, has minted a whopping $2 billion in USDT through the…

September 4, 2025

Pump.fun Purchased Over $12M in $PUMP Last Week Triggering Bullish Rebound

Pump.fun, the leading memecoin launchpad on the Solana (SOL) ecosystem, has announced another major buyback…

September 4, 2025

Top Crypto to Buy for the Next Bull Run? ETH Is Champion of This Run, Experts Are Pro MUTM For The Next One Gunning for $3

Ethereum (ETH) has cemented itself as the champion of the current bull run, leading with…

September 4, 2025