Google gave the green light to blockchain-based applications! Google says that if your mobile app sells a tokenized digital asset or allows users to earn it, you should report it on the app content page on the Play Console. If you report it, you will not encounter any problems. As a result, a big rise in the cryptocurrency ecosystem is expected in 2024.
Google Play Store is also implementing a new crypto asset policy to protect users’ security and minimize potential risks.
Last week, Google (Google Play) made a major update to its blockchain content policy. It is thought that new opportunities may arise with this new update.
The purchase, storage or exchange of cryptocurrencies must be done through licensed entities. This means that Google will request licenses or letters from similar crypto-asset service providers. We had a similar situation in Turkey before at Apple. In countries that do not yet have licensing regulations, we have encountered strange situations such as proving that there is no license. Google has also adopted this proof-of-stake requirement. Another consequence of Google policy is affecting startups without a trading platform. Service providers that are unable to operate in a licensed and regulated manner will have to seek legal advice to ensure compliance.
Google Play’s new crypto asset policy is an important step towards protecting user security. At a time when cryptocurrencies are rapidly gaining popularity, such measures can increase users’ trust and prevent malicious activity. The platform’s constantly updated policies and efforts to inform users will contribute to making the digital world a safer place.