According to new rules, starting August 2025, all cryptocurrency-related apps on Google Play Store will be required to possess government-issued licenses in 15 major jurisdictions.
New Licensing Requirements
Google Play Store is implementing mandatory licensing for cryptocurrency exchange and wallet apps. These requirements will apply in 15 jurisdictions, including the US and EU, aiming to enhance compliance.
Impact on Small and Large Companies
This policy could significantly affect small developers due to the higher compliance costs. Larger licensed exchanges like Coinbase and Bitstamp may see an increased market share as unregistered projects face challenges.
Potential Market Consequences
The new requirements could lead to increased centralization, potentially stifling innovation in the industry. Implementing licenses for crypto apps means developers may face high legal costs, creating additional barriers to market entry.
As a result, Google's new licensing policy for crypto apps will reshape the market, raising compliance standards and creating additional challenges for small developers.
