In Crypto, Google Play today reveals new wallet providers rules, but releases non-supervising wallets; Standard Chartered forecasts Ether will hit $ 7,500 in 2025 on record -ethf and treasury demand, stablecoin growth and network upgrades; and US banking groups are pushing to close a brilliant act “loophole”.
Google Play sets new licensing rules on Crypto wallet -developers
Google Play will require crypto wallets in more than 15 jurisdictions, including the United States and the European Union, to get licenses and comply with an “industry standards” under an updated policy. The review does not affect the non-cultivation.
According to Google Play’s policy notice, the changes come into effect on October 29. Developers in the US must register with local regulators as a money service business or money transmitter, while those in the EU must register as a Crypto Asset Service Provider (CASP).
In the US, companies have registered with the Financial Crimes Relief Network (FINCEN), as money services enterprises must meet specific requirements, including the implementation of a written money laundering program. This can lead to a broader acceptance of your customer checks and other measures.
Google expressed concern about the policy impact on X after the crypto community setback and stated: “Non-supervising wallets are not in the scope of Google Play’s cryptocurrency exchanges and software wallets policy. We work on the help center to make it clear.”
Ether climbs to new highlights as standard chartered ups target up to $ 7,500
Standard Chartered raised its etheric for 2025 to $ 7,500, higher than a previous target of $ 4,000, citing an increase in institutional buying and the accelerated acceptance of stableecoins after recent US regulatory changes.
In a report shared with Cointellegraph, the bank said Ether (ETH) Treasury businesses and bursary traded funds (ETFs) have gained 3.8% of all ETH in circulation since the beginning of June, almost double the fastest rate of bitcoin conjunction by similar entities during the US election cycle of 2024.
“Many have changed since our last ETH Prediction update in March,” Standard Chartered wrote. “The first strong positive sign was a significant operational involvement of the Ethereum Foundation and Eternialize, two of the organizations behind the Ethereum ecosystem,” he added.
The British bank also noted that Vitalik Buterin increases the low-1 throughput of Ethereum by 10x, enabling more high value transactions to establish Onchain, while smaller transfers to low-2 networks such as Bribrum and Base delegate.
Standard Chartered cites the transition from the Genius Act in July as another important catalyst. The legislation provides a clear framework for stableecoins, which paves the way for mainstream adoption. The bank noted that stableoins make up 40% of all blockchain fees, with more than half released at Ethereum.
US banking groups want to close Genius Act StableCoin return “Room”
US banking groups led by the Bank Policy Institute (BPI) on Tuesday called on the congress to close what they claimed was a loophole that could indirectly allow the issuers of stablecoin to pay returns on stableecoins through subsidiaries.
New StableCoin laws under the Genius Act prohibit stablecoin issuers to offer returns to drawing holders, but do not explicitly prohibit crypto exchanges or affiliate businesses to do so, enabling the issuers to offer the law by offering returns by the parties, they said.
The groups said that a failure to close the so-called loophole could disrupt the credit flow to US businesses and families, which could possibly cause $ 6.6 trillion deposit outflow of the traditional banking system.
The banking groups are apparently concerned that yield-bearing stableoins can undermine the ability of banks to attract high-interest savings products to support the loans they make.
The offering of returns is one of the largest marketing traits that stablecoin issuers must attract users. Some stableecoins, such as USDC (USDC) offered by Circle, reward those who keep it on crypto exchanges such as Kraken and Coinbase.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
UnCirculars – Cutting through the noise, delivering unbiased crypto news
