Google U-Turn on Plan to Remove Non-Custodial Crypto Wallets from
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Google U-turn on plan to remove non-custodial crypto wallets from Play Store following intense backlash as Jack Dorsey calls guidelines "terrible".
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Anas Hassan
Crypto Journalist
Anas Hassan
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Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
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Google has officially reversed its controversial plan to remove non-custodial crypto wallets from the Play Store following intense criticism from the cryptocurrency community on Wednesday.
On August 13, Google Play unveiled new licensing requirements mandating that custodial crypto wallet providers secure jurisdiction-specific licenses across more than 15 countries.
Under these regulations, US app developers must operate under federal or state banking charters or register with FinCEN as money services businesses while obtaining state money transmitter licenses.
Crypto Twitter Explodes On Google’s Threat to Non-Custodial Wallets.
Within the European Union, developers are required to register as crypto-asset service providers under the Markets in Crypto-Assets (MiCA) regulation.
Meanwhile, the UK mandates Financial Conduct Authority registration for compliance purposes.
These requirements would have forced non-custodial wallets such as MetaMask,...
https://cryptonews.com/news/google-u-turn-on-plan-to-remove-non-custodial-crypto-wallets-from-play-store-following-backlash/
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