According to Wu, The Rage reported that the Google Play Store has launched a new policy requiring developers of cryptocurrency wallet applications to obtain relevant licenses in 15 jurisdictions, including the United States and the European Union. In the United States, they must register as a FinCEN-recognized Money Services Business (MSB) and obtain state-level money transmission licenses or hold a banking license. In the European Union, they need to obtain a license as a Crypto Assets Service Provider (CASP) under the MiCA framework. This requirement does not distinguish between hosted wallets and non-hosted wallets, which means that most non-hosted wallets will struggle to meet the criteria and will be excluded from the Google Play Store.

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