Updated Google Play policy demands registration of all cryptocurrency applications aimed at South African users with the Financial Intelligence Centre.

In the rapidly evolving world of cryptocurrency, South Africa is making significant strides in regulatory compliance. Here's a breakdown of the key points developers need to consider when targeting the South African market.

Starting from April 2025, developers must adhere to the Financial Regulatory Compliance, particularly the Travel Rule for cryptocurrencies. This compliance is a result of the regulatory implementation in South Africa.

To ensure a secure and transparent environment, developers are required to implement robust Anti-Money Laundering (AML) and Know-Your-Customer (KYC) measures. This is in line with South Africa's commitment to combating financial crime.

Google Play, a global leader in app distribution, payment processing, and related services, has included South Africa in its policy due to its regulatory compliance needs. Consequently, cryptocurrency exchanges and software wallets can only be published in South Africa if they comply with local laws and industry standards.

In 2022, the South African Treasury announced plans to introduce crypto laws. As part of these regulations, crypto operators may soon be required to report transactions exceeding $2,650.

The Financial Sector Conduct Authority (FSCA) supervises crypto platforms in South Africa to ensure consumer protection and financial integrity. Developers targeting South Africa must ensure that their apps are registered with the Financial Intelligence Centre (FIC).

Google's updated developer policy requires cryptocurrency app developers to prove compliance and hold licensing from South Africa. Non-compliance or failure to hold the necessary South African regulatory registration could result in removal of South Africa from an app's distribution targeting.

Developers must declare their app as a cryptocurrency exchange or software wallet in the "Financial features declaration" under App content. South Africa also seeks to enforce a new directive for crypto companies to share customer identities.

In summary, the evolving regulatory landscape in South Africa aligns with Google's aim to ensure that listed crypto-related apps meet local legal and industry standards. Developers must stay informed and ensure compliance to navigate the South African market effectively.

Updated Google Play policy demands registration of all cryptocurrency applications aimed at South African users with the Financial Intelligence Centre.