Altcoin
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Altcoin News
Altcoin News
Browse all Altcoin related articles and news. The latest news, analysis, and insights on Altcoin.
ADA Comment and Price Analysis - August 18, 2025 | JrKripto
ADA Technical AnalysisWith the upward breakout of the falling wedge on the ADA chart, the market structure continues positively. We see that it retraces after the breakout and then moves to the $1 region. We can say that the trend is positive after this point. This structure will be maintained as long as it remains above $0.68.In the short term, the levels to watch out for in case of pullbacks are as follows:$0.87 appears to be the first area where we believe the price could hold on to a pullback.$0.79 is a more suitable and clearer area for a reversal. Any pullbacks up to this level will not disrupt the positive structure.In the continuation of the upward movement, $1.10 and $1.35 will be targets. In particular, breaking the $1 psychological resistance could accelerate the rise. Falling Wedge Fracture These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
Ethereum Leads, Solana and XRP Follow: Fund Inflows Break Record
According to CoinShares' weekly crypto fund report, a total of $3.75 billion in inflows into crypto investment products occurred last week. This figure is notable as the fourth-highest weekly inflow on record for crypto funds. This brings total assets under management (AuM) to an all-time high of $244 billion.Record inflows for EthereumThe biggest gainer of the week was clearly Ethereum (ETH). With $2.87 billion in inflows in just one week, ETH alone accounted for 77% of the total weekly inflows. Ethereum's inflows since the beginning of the year reached an all-time high of $11 billion. This data demonstrates that Ethereum, which has proportionally surpassed Bitcoin, is becoming an increasingly attractive alternative for investors.Bitcoin Remains More ModestThe picture for Bitcoin (BTC) is quieter. Weekly inflows reached $552 million, bringing total inflows since the beginning of the year to $21 billion. While this figure appears strong, Bitcoin's ratio of assets under management (11.6%) lags behind Ethereum's.Solana and XRP emerged as standouts on the altcoin frontNotable developments also occurred on the altcoin front.Solana (SOL): Proving continued investor interest with $176.5 million in weekly inflows.XRP: Had a strong week with $125.9 million inflows.Sui (SUI): Recorded $11.3 million inflows.Conversely, Litecoin (LTC) and Toncoin (TON) outflows of $0.4 million and $1 million, respectively, were the projects that diverged negatively. iShares Leads Funding ProvidersAccording to the data in the image, iShares/USA held the largest share among funders. With $3.2 billion inflows last week alone, iShares accounted for almost all of the total inflows. Other providers stood out with relatively limited figures:Grayscale: $85 million inflowProShares: $66 million inflowARK 21 Shares: $184 million outflowFidelity: $74 million outflowRegional breakdown: US leads the packIn terms of geographic breakdown, the US market alone accounted for 99% of the total volume, with $3.73 billion inflow. Other regions saw smaller inflows:Canada: $33.7 millionHong Kong: $20.9 millionAustralia: $12.1 millionOn the other hand, Brazil (-$10.6 million) and Sweden (-$49.9 million) were the regions with negative outflows.Recent data shows that institutional investors' interest in crypto continues to grow, with Ethereum, in particular, taking the lead. While Bitcoin still maintains its market leadership, the strong performance of altcoins Solana and XRP is particularly noteworthy.
After Monero, It's Dogecoin's Turn: Qubic Votes for a 51% Attack
Following its recent attack on Monero, the AI-focused blockchain project Qubic has turned its attention to Dogecoin. In a vote within the Qubic community, Dogecoin (DOGE) was chosen by a large margin over Zcash and Kaspa. This development has fueled concerns in the already declining crypto market.According to market data, DOGE opened Monday trading at $0.22, down nearly 5 percent.Qubic's new target: DogecoinQubic founder Sergey Ivancheglo, known by his nickname "Come-from-Beyond," asked the community which ASIC-powered proof-of-work (PoW) network should be targeted. The options included Dogecoin, Zcash, and Kaspa. Hundreds of supporters voted for Dogecoin, and Ivancheglo declared, "The Qubic community chose Dogecoin." As previously reported, Qubic recently claimed to have reorganized six blocks, gaining 51% control of Monero's network. This has raised serious questions about Monero's security. Kraken exchange was even forced to temporarily halt Monero investments due to the risk.Qubic's justification is striking: Ivancheglo stated, "Too much electricity is being wasted on useless PoW, we need this electricity for artificial intelligence." In other words, Qubic aims to serve its own AI-focused vision by targeting PoW networks.Sharp Bitcoin PullbackThis threat to Dogecoin, combined with the generally negative market sentiment, further reduced risk appetite. Bitcoin (BTC) fell to $115,000 on Monday morning after reaching $124,000 last week.The decline was driven by the higher-than-expected US Producer Price Index (PPI) released on Friday. This data has weakened the likelihood of a 50 basis point interest rate cut by the US Federal Reserve (Fed) in September. Furthermore, the Fed's Jackson Hole meetings are expected to begin this week. However, analysts predict that gradual 25 basis point cuts will occur in September and October. A report published by Coinbase Institutional stated, "As the Fed looks at the broader economic landscape, interest rate cuts will be inevitable."Consequently, Qubic's move against Dogecoin has sparked a new debate about the security of PoW-based cryptocurrencies. A 51% attack seizes the majority of a network's mining power, enabling double spending and blockchain rewriting.Dogecoin's much larger ecosystem compared to Monero makes the attack's chances of success uncertain. However, targeting DOGE, the most popular meme coin in the crypto ecosystem, could undermine investor confidence. As a result, the sharp pullback in Bitcoin and threats to Dogecoin are causing investors to remain cautious.
ETHFI Comment and Price Analysis - August 15, 2025 | JrKripto
ETHFI/USDT Technical AnalysisLooking at the ETHFI chart, a symmetrical triangle formation is immediately apparent. This pattern indicates growing price compression, signaling that a breakout is imminent and likely to trigger a sharp move in the breakout’s direction. ETHFI, currently trading around $1.20, is located in the middle band of the triangle. The triangle's middle band support level of $1.12 is currently facing the price. If it falls below this level, the $0.95 trend support and the $0.88 horizontal support will come to the fore.In bullish scenarios, the $1.35-$1.43 range is important both horizontally and as the upper band of the triangle. If this resistance area is broken, $1.56 and then $2.05 could become targets. An upward breakout of the triangle will also trigger volatility. Narrowing Triangle Formation In summary:• The symmetrical triangle formation is active. • Strong support at $1,123, and $0.95 and $0.88 below should be monitored.• Strong resistance at the $1,350-$1,433 area.• On an upward breakout, $1,562 → $2,043 → $2,512 can be targeted.• On a downward breakout, $0.95 → $0.88 → $0.807 are prominent support levels.These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
EDU Comment and Price Analysis - August 15, 2025 | JrKripto
EDU Technical AnalysisThe Open Campus (EDU) ecosystem recently launched a groundbreaking step in the field of crypto education: This new chain, called EDU Chain and built on the Arbitrum Orbit infrastructure, enables user-centric, decentralized, and efficient management of educational data. With the support of two major investors, Binance Labs and Animoca Brands, the project has grown and now hosts over 100 educational dApps. The EDU token is used not only in governance but also as the primary resource for the network's operational processes. Narrowing Triangle Structure The first significant resistance level we encounter on the chart is the 0.1487–0.1575 band. This region not only acts as resistance but also intersects with the upper boundary of the contracting triangle. Therefore, a breakout here would signify the surpassing of not only a technical but also a psychological barrier. If the price breaks the $0.15 level with significant volume, the following levels can be monitored: 0.1851, 0.2087 (MA200), and 0.2175-0.2304.However, a sustained breakout below 0.1383 (MA50) could pull the price back to $0.1290 and $0.11-0.10.These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
ZK Comment and Price Analysis - August 15, 2025 | JrKripto
ZK/USDT Technical AnalysisLooking at the ZK chart, we can see that the price tested the $0.07353 level and then pulled back after encountering selling pressure. ZK Current View The $0.07245–$0.07883 range is an important resistance zone and holds critical significance as it intersects with the descending trendline. If the price breaks above this level and secures daily closes, it could have the potential to target the $0.09991 level, followed by the $0.1266–$0.1377 resistance zones.In potential pullbacks, the $0.0588 level can be monitored as a zone where buyers recently stepped in and the price reacted upward.These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
BNB Comment and Price Analysis - August 14, 2025 | JrKripto
BNB Technical OutlookOn the daily chart, BNB is moving within an ascending channel. The overall structure appears positive, with the prevailing trend pointing upward. Rising Channel At the moment, the price is trading at $847. The $861 resistance level has been tested twice in a short period, confirming it as a strong resistance zone. Just above this level lies the channel’s trend resistance. For a trend test, the price would need to approach the $900 region. The $900–$928 range also stands out as a resistance area. Currently, the broader $850–$930 zone is acting as a selling area for BNB. A breakout above this zone would imply a target equal to the channel’s width, which points to approximately the $1,500 region.On pullbacks, the key support levels to watch are:$830$790$752–$762These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
ETH, SOL, ARB, and LDO Highlighted: Coinbase Announces Altcoin Season Forecast
Coinbase Institutional's latest monthly market report suggests that September could mark the start of altcoin season in the cryptocurrency markets. The report highlights three key factors: a decline in Bitcoin dominance, increased market liquidity, and a rise in investor risk appetite.Coinbase report fuels altcoin season expectationsCoinbase Institutional's monthly market report, published on August 14, predicts that September could mark the start of altcoin season in the cryptocurrency market. According to the report, the decline in Bitcoin's market dominance, improved liquidity conditions, and a rise in investor risk appetite could accelerate the shift of capital from BTC to altcoins in the coming weeks.According to CoinMarketCap data, an altcoin season is defined as at least 75% of the 50 largest altcoins by market capitalization outperforming Bitcoin in the past 90 days. While this rate currently remains below this threshold, the total altcoin market capitalization has increased by more than 50% since the beginning of July, reaching $1.4 trillion. Bitcoin dominance, however, has fallen from 65% in May 2025 to 59%. According to Coinbase, this pattern provides early signs of a potential rotation that could lead to a full-scale altcoin season in September.ETH and "beta" altcoins attract attentionThe report notes that much of the recent surge in the altcoin market is linked to increased institutional interest in Ethereum (ETH). The accumulation of ETH by digital asset treasuries (DAT), combined with positive narratives surrounding stablecoins and real-world assets, is supporting demand. For example, Bitmine Immersion Technologies reportedly reached a total purchasing capacity of 1.15 million ETH with a new $20 billion fund.ARB, ENA, LDO, and OP stand out among altcoins that reacted to ETH price action with high beta. Beta indicates how volatile an asset's price movement is relative to the benchmark asset. A beta greater than 1 indicates that the price is more volatile than the benchmark asset, meaning it may move more sharply during both ups and downs. Among this group, only LDO has clearly benefited from the ETH rally, with a 58% increase since the beginning of August. LDO's performance was influenced by the US Securities and Exchange Commission's (SEC) statement on August 5th that liquid staking tokens are not considered securities under certain conditions.Macro Environment and Liquidity SupportCoinbase predicts that the Fed interest rate cuts expected in September and October could draw some of the record $7.2 trillion currently held in money market funds into the crypto market. The recovery in spot and derivative trading volumes, order book depth, and stablecoin supply in recent weeks is also facilitating entry and exit from the altcoin market. “The decline in Bitcoin dominance and the increase in altcoin market capitalization, combined with investors’ desire to shift to riskier assets, could initiate a capital rotation process that could turn into a mature altcoin season in September,” the report stated.
Citigroup Eyes Stablecoin and Crypto ETF Services
Wall Street giant Citigroup is preparing for a new move in the cryptocurrency market. Following regulatory clarity and supportive legislation introduced during the Trump era, the bank plans to offer custody services for stablecoin reserves and crypto ETFs.Citigroup's Head of Global Partnerships and Innovation, Biswarup Chatterjee, told Reuters that their initial focus will be on safekeeping "high-quality assets that back stablecoins." These assets include secure reserves such as US Treasury bonds and cash.A New Player in the Stablecoin and ETF MarketThe GENIUS Act, enacted in the US this year, mandated stablecoin issuers to hold secure and liquid assets to back their tokens. This has created new opportunities for traditional banks to offer institutional-scale custody services.In addition to stablecoin reserves, Citi also plans to offer custody services for cryptocurrency-backed exchange-traded funds (ETFs). Chatterjee said, “These ETFs require the safe storage of an equivalent amount of cryptocurrency to support them.”Spot Bitcoin ETFs have attracted significant interest since their approval in 2024. Currently, 12 spot Bitcoin ETF companies in the US hold approximately 1.3 million BTC. BlackRock’s iShares Bitcoin Trust fund alone manages approximately $88-90 billion in assets. Ethereum ETFs have also seen rapid influx in recent months. Instant Cross-Border Payment PlansIn addition to its custody services, Citigroup aims to use stablecoins for instant cross-border payments. The bank currently offers blockchain-based “tokenized” dollar transfers between accounts in New York, London, and Hong Kong. It is now working on direct transfers or instant conversion of stablecoins into dollars.Citi CEO Jane Fraser stated during the second-quarter earnings meeting in July that the bank is also evaluating the possibility of issuing its own stablecoin. Fraser said, “Most importantly, we are very active in the tokenized deposit space. Our goal is to securely deliver advancements in stablecoins and cryptocurrencies to our clients.”Competition is heating upCurrently, Coinbase provides custody for over 80% of US-listed crypto ETFs. Citigroup’s entry into this space could intensify competition in both the stablecoin and ETF custody markets. With a global network operating in over 160 countries and 200 million customers, the bank has the potential to bring significant institutional scale to the sector.US banking associations have called on Congress to prohibit affiliates of stablecoin issuers from paying interest to token holders. Bankers argue that such practices could accelerate deposit outflows and increase credit costs. Ultimately, Citigroup’s plans purport to raise institutional security standards in the cryptoasset ecosystem.
SEC Postpones Four Solana ETF Applications Again: Eyes Turn to October 16
The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on applications for exchange-traded funds (ETFs) focused on Solana (SOL). Official filings indicated that the next deadline for the Bitwise Solana ETF and the 21Shares Core Solana ETF is October 16, 2025. This move aligns with the regulator's frequent postponement strategy for similar crypto-asset ETFs.Not only Bitwise and 21Shares, but also the Solana ETF applications filed by Canary Capital and Marinade Finance were also postponed. In its justification for the postponement, the SEC stated that it determined "a longer deadline is appropriate to allow sufficient time to approve or reject the proposed rule change."The tradition of postponements continuesThe SEC has recently been faced with dozens of crypto ETF applications, ranging from XRP to DOGE. Previous Solana ETF initiatives by giants like Grayscale and Fidelity were similarly postponed. These delays for the Solana ETF raise questions among investors, especially considering the softening of regulatory stance during the Biden administration and the approval of spot Bitcoin and Ethereum ETFs.ETF analyst James Seyffart states that these delays are normal, but the process is "persistently slow," particularly for Solana. Some market commentators allege that Caroline Crenshaw, a crypto-opposition figure within the SEC, is slowing down the process by obstructing expedited approval procedures.Market and Investor ExpectationsThis SEC stance directly impacts Solana's integration with traditional financial products. Many investors believe that a potential ETF approval would increase Solana's liquidity and institutional interest. Spot Bitcoin ETFs have also been approved in 2024 after undergoing lengthy approval processes. This situation is seen as a promising precedent for Solana ETFs.According to market data, Solana is currently trading at $197.39 and has gained 4.18% in the last 24 hours. The 24-hour price range was between $188.80 and $206.21. Solana, with a market capitalization of $106.52 billion, has a fully diluted valuation of $120 billion. Its 24-hour trading volume is $12.14 billion. What's next?The October 16th deadline is crucial for the applications. The SEC must approve or reject the applications by this date. However, given past precedents, investors are increasingly speculating that the process will likely drag on rather than receive a clear approval on that date.Reports suggest the SEC may be working on new approval standards for crypto ETFs. Last month, a basket ETF containing Solana was approved only one day later, and the product was withdrawn from the market. This suggests the agency is cautious, even if it favors certain products. If the new standards are established, the Solana ETF approval process is expected to be shaped by these regulations.
PEPE Comment and Price Analysis - August 14, 2025 | JrKripto
PEPE/USDT Technical AnalysisLooking at the PEPE chart, we are met with a broad contracting triangle pattern. It is evident that the price is nearing the end of the triangle and that a breakout is approaching. This consolidation increases the potential for a sharp price move in the coming period.From a horizontal support and resistance perspective, the $0.00001221 zone stands out as a critical resistance level. A move above this level could bring the $0.00001489 and $0.00001599 resistances into play. Notably, surpassing $0.00001599 could open the door for the price to enter a new all-time high (ATH) phase.On pullbacks, the $0.00001000 level is the first significant support to watch. If this level is breached, the $0.00000932 and $0.00000748 supports should be monitored. In particular, $0.00001000 is critical because it intersects with the lower trend support of the formation, meaning that a breakdown here could intensify selling pressure. Narrowing Triangle Structure Summary:The contracting triangle formation has entered its final stage.Sustaining above $0.00001221 could pave the way for $0.00001599 and a potential new ATH.The $0.00001000 support is crucial; below it, $0.00000932 – $0.00000748 levels will be in focus.A breakout could trigger a high-volume, sharp trend movement.These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
Was BtcTurk Hacked? Statement Released After Suspicious $50 Million Withdrawal
BtcTurk, one of Turkey's leading cryptocurrency exchanges, temporarily suspended cryptocurrency deposits and withdrawals today due to a technical issue with its hot wallets. The company stated that users would be notified when transactions reopened, and that trading, as well as Turkish Lira deposits and withdrawals, continued uninterrupted.The development came to light following findings by blockchain security firm CertiK. According to information shared by CertiK Alert, a total of over $50 million in cryptocurrency was withdrawn from three separate wallets identified as belonging to BtcTurk on August 14th. This raises the possibility of a potential security breach or system vulnerability.BtcTurk's statementIn its official statement, BtcTurk did not provide detailed information about the security of user funds, citing only a "technical issue with hot wallets." However, the exchange emphasized that trading and Turkish Lira transactions continued and that users could manage their assets. Hot wallets are known on cryptocurrency exchanges as wallets accessible via an internet connection and used for daily transactions. While these types of wallets offer the advantage of fast transfers, they are more vulnerable to cyberattacks than cold wallets. Therefore, such "suspicious exits" are of great importance to investors.The exchange stated that cryptocurrency deposits and withdrawals will be reopened once the technical issue is resolved, and that updates will be shared with users during this process. The source of the incident, whether it was a cyberattack or another technical issue, is not yet known.
WLD Comment and Price Analysis - August 14, 2025 | JrKripto
WLD Technical AnalysisWLD’s chart has been following a structure that began in mid-2024 and continues to trade within it to this day. This structure can be defined as a falling wedge formation, which has been shaping the chart in a consistent manner. The primary target of this formation is an upward breakout, with the $4 region as a potential post-breakout objective. Remaining within this structure in the long term is a positive signal. FALLING Wedge Formation In the short term, we can see that the price has frequently touched the upper band of the falling wedge recently. This indicates that the trend resistance is weakening. At the moment, both the trend resistance and a horizontal resistance zone are intersecting. The $1.12 – $1.22 resistance range forms the main selling zone alongside the trendline. Pullbacks from this area would be quite natural. Maintaining support above $0.91 will preserve the positive outlook. Each subsequent touch to the trendline will bring the price closer to a breakout. On the downside, the $0.91, $0.85, and $0.79 levels will be the key supports to watch, while on the upside, the falling wedge’s trend resistance, along with $1.12, $1.22, and $1.55, will serve as the nearest resistance levels.These analyses do not constitute investment advice and focus on support and resistance levels that may present potential trading opportunities in the short and medium term, depending on market conditions. However, the responsibility for executing trades and managing risk lies entirely with the user. It is also strongly recommended to use stop-loss orders for any trades mentioned.
Bitcoin Price Hits New Record, Altcoins Gain Momentum: What's Next?
Bitcoin reached an all-time high of $124,130 in the early hours of Thursday morning. According to market data, the rally, which began from an intraday low of $119,000, surpassed the previous record of $123,300, pushing the total value of the cryptocurrency market to its highest level in history. Premium trading on some exchanges (Coinbase, Bitstamp) pushed the price even higher, with records of $124,130 also on the horizon. According to experts, BTC has gained 3.4% in the last 24 hours and approximately 8% in the last week. This momentum is driven by easing global trade tariffs and increasing expectations of a September interest rate cut due to high core inflation in the US. With this rise, Bitcoin's market capitalization reached $2.46 trillion, surpassing tech giant Google (Alphabet) to become the world's fifth-largest asset. Analyst Rekt Capital emphasized the critical $126,000 level, stating that this level could open the door to a strong breakout. Venture capitalist Chris Burniske predicted a peak for Bitcoin in October, predicting that "BTC could reach $142,690." Burniske claimed that Ethereum could reach $6,900-8,000 during this cycle, while Solana could reach $420.BTC Markets analyst Rachael Lucas emphasized that the influx of institutional capital was driving the record highs: "Public and private companies, as well as sovereign wealth funds, currently control 3.64 million BTC, representing more than 17% of the total supply."Ethereum and the altcoin frontEthereum also maintained its strong performance, reaching a four-year high of $4,770. This level is only 2.5% away from its all-time high of 2021. Rekt Capital stated that Ethereum could enter a period of price discovery if the $4,630 level becomes support. Bitcoin dominance falling below 60% has been interpreted as a sign of the start of altcoin season.Selling Pressure from Long-Term InvestorsHowever, blockchain data shows that more than 300,000 BTC has been withdrawn from long-term wallets in the last four weeks. Some wallets that had been dormant for years have become active and profit-taking. Glassnode reported that these sales, which reached record levels in July, continued, albeit at a slower pace in August.Sam Gaer of Monarq Asset Management said, “While supply from older wallets limited the price increase, the market largely absorbed this pressure.” Furthermore, institutional investors selling call overwriting options at high prices has pushed volatility to historic lows.Analysts note that a strong demand base has formed at $118,000 and that macroeconomic conditions remain supportive. Sentora's Gabriel Halm stated that 1.88 million addresses bought 1.3 million BTC at an average price of $118,000, preventing sharp pullbacks. Vtrader founder Steve Gregory stated that Ethereum investors could capitalize and return to Bitcoin, which could support a sustained price above $120,000.
Google's Play Store Policy Raises Crypto Community
Google's recently implemented Play Store policy change sparked widespread backlash among cryptocurrency developers and privacy advocates. By requiring licenses for wallet apps, the company failed to distinguish between custodial and non-custodial models. This risked effectively banning many non-custodial wallets in the US and EU, despite not being legally required to do so. Following the outcry, Google clarified that non-custodial wallets were excluded and promised to amend the policy.Requirements Exceed US Legal FrameworkAccording to the initial policy, all wallet developers in the US were required to obtain FinCEN's Money Service Business (MSB) registration and a state-by-state "money transmitter license." This effectively extended the anti-money laundering (AML) and know-your-customer (KYC) requirements imposed on banks to all wallet apps. However, FinCEN's 2019 guidance clearly stated that non-custodial wallets, which do not hold or transfer user funds, are exempt from this classification. Although not legally required, the policy would force small developers to leave the Play Store and restrict users' access to privacy-focused tools. Risk of a de facto ban in the EU conflicting with MiCAOn the European Union side, Google's policy appeared to align with the "Crypto Asset Service Providers" (CASP) licensing system defined under MiCA. However, the CASP definition covers organizations that issue, exchange, or store digital assets. Because non-custodial wallets did not meet these criteria, obtaining a license was practically impossible. This meant they were removed from the EU Play Store. The only exception was if such wallets were distributed through a licensed CASP, which would have concentrated the market in the hands of large, regulated players. FATF Impact and “Commercial Regulation”The policy approach was very similar to the broader comments in the FATF’s 2021 guidance. The FATF had proposed that some non-custodial software developers involved in processes such as user interfaces, even if they don’t technically provide storage, be considered “Virtual Asset Service Providers.” While the FATF guidelines are not legally binding, member states can face sanctions if they fail to comply. Google’s inclusion of these standards in its app store rules has been characterized by critics as “commercial regulation.”Why are they important for decentralization and privacy?Non-custodial wallets are a cornerstone of the crypto ecosystem’s principle of “financial sovereignty.” These tools allow users to control their own keys and conduct transactions without relying on third parties. Applying bank-specific licensing regimes to these software could eliminate small projects and limit consumer options to strictly regulated applications with KYC requirements. This would be a major setback for innovation and privacy. Google's decision to backtrack and exempt non-custodial wallets from licensing is a positive development. However, this incident demonstrates that not only governments but also large tech companies can influence freedom of access and use in the crypto space. The infiltration of FATF-like frameworks into private sector policies could be seen as a sign that developers and users may be forced to fight the same struggle for privacy and autonomy, but on different fronts.
