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Google Play Store bans wallets that don't have banking license
New Google Play Store policy now requires FinCEN registration, state banking license, or MiCA license for non-custodial wallets.
The policy targets 15 jurisdictions, including the European Union and the United States, laying out which regulations Google Play Store expects software wallet developers to comply with. A recent filing suggests that Samourai Wallet prosecutors withheld exculpatory evidence, revealing that FinCEN told SDNY that the developers likely did not need an MSB license. FATF recommendations are binding for member states, violations of which may lead to black- or grey listing of countries, functioning similar to a global trade sanctions regime.
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