REGULATION | All Crypto Apps Targeting South Africans Must Be Registered with the Financial Intelligence Centre, Says Updated Google Play Policy

Google has updated its Google Play developer policy and now requires crypto app developers targeting South Africa to prove compliance and hold licensing from South Africa.

Google Play’s policy on Cryptocurrency Exchanges and Software Wallets specifies that such applications may only be published in certain countries or regions – including South Africa – if they comply with local laws and industry standards.

Developers targeting South Africa must ensure that their apps conform to National regulations, such as being properly registered with the Financial Intelligence Centre (FIC), implementing robust anti-money laundering (AML) and know-your-customer (KYC) measures, and fulfilling any applicable oversight by the Financial Sector Conduct Authority (FSCA).

To remain eligible on Google Play, developers must declare their app as a cryptocurrency exchange or software wallet in the “Financial features declaration” under App content. If targeting South Africa – and any jurisdiction on the restricted list – they will receive location-specific forms to complete.

Non-compliance or failure to hold the necessary South African regulatory registration could require removal of South Africa from the app’s distribution targeting.

Cryptocurrency exchanges and wallet providers operating in South Africa are required to register with the FIC and comply with AML/KYC standards.

The FSCA also supervises crypto platforms to ensure consumer protection and financial integrity.

Why South Africa is Included in the Policy List

South Africa’s evolving regulatory landscape – highlighted by FIC and FSCA requirements for registration and risk controls – aligns with Google’s aim to ensure that listed crypto-related apps meet local legal and industry standards.

The regulatory implementation of the crypto Travel Rule for all crypto asset service providers in April 2025 further re-inforces the move as South Africa moves to align with the global standards set by the Financial Action Task Force (FATF) Developers must thus follow financial regulatory compliance.

Consequently, Google Play likely included South Africa in its list to enforce that crypto exchanges and wallets comply with the formal registration, AML/KYC, and supervisory obligations demanded by South African regulators.

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