Google is implementing a policy mandating developers of cryptocurrency exchanges and wallets obtain government licenses before app publication in 15 specified jurisdictions. This policy targets markets such as Bahrain, Canada, Japan, the United States, and the European Union. Developers must hold the appropriate licenses or be registered with authorities like the FCA or FinCEN. Applications for non-custodial wallets are exempt. Google may also request additional compliance information. Failure to provide required registration can lead to the removal of apps from targeted regions. The FBI recently issued a warning about cryptocurrency recovery scams.
Google is requiring developers of cryptocurrency exchanges and wallets to obtain government licenses before publishing apps in 15 jurisdictions to ensure user safety and compliance.
Developers must hold appropriate licenses or register with relevant authorities like the FCA or FinCEN before distributing cryptocurrency exchange and wallet apps.
Non-custodial wallets are exempt from the new licensing policy, but developers need to adhere to local licensure requirements in non-listed locations.
The FBI issued an updated alert warning of cryptocurrency scams where companies falsely claim to assist victims in recovering stolen funds.
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