Google Play Don Impose License Requirements for Crypto Wallet
Google Play go dey enforce crypto wallet licence requirements for pass 15 jurisdiction dem from October 29. These rules go cover both non-custodial and custodial providers dem. For US, wallet developers must register as Money Services Business or money transmitter with FinCEN and put AML and KYC controls in place. EU developers must get MiCA licence as crypto-asset service provider. All Android-based crypto wallets una for Google Play must follow these standards. Other areas still get similar local licence rules. This policy dey meant to boost security and regulatory compliance but e fit make operational cost high pass before. Traders suppose dey watch wallet availability and compliance changes, as higher costs and less app listings fit affect how users use am and the transaction volumes.
Neutral
Dis licenses go increase di compliance cost for wallet providers, fit make dem reduce di availability of apps weh no dey follow di rules. For short term, traders fit get small wallet options and wahala, but di better security and standardized AML/KYC processes fit make users trust di system more. For long term, strong regulation and clear licenses fit make di market stable and attract institutional players, wey go balance di early restrictions. Overall, di impact for cryptocurrency prices go neutral, as developers go adapt and di security benefits go balance di increased operational costs.