#MarketGreedRising Here’s what happened in crypto today

Today in crypto, Google Play unveils new rules for wallet providers but exempts non-custodial wallets; Standard Chartered forecasts Ether to hit $7,500 in 2025 on record ETF and treasury demand, stablecoin growth, and network upgrades; and US banking groups push to close a GENIUS Act “loophole.”

Google Play sets new licensing rules on crypto wallet developers

Google Play will require crypto wallet providers in over 15 jurisdictions, including the United States and the European Union, to get licenses and comply with “industry standards” under an updated policy. The revision does not affect non-custodial wallets.

According to Google Play’s policy notice, the changes take effect Oct. 29. Developers in the US will need to register with local regulators as either a money services business or money transmitter, while those in the EU must register as a crypto-asset service provider (CASP).

In the US, companies registered with the Financial Crimes Enforcement Network (FinCEN) as money services businesses must meet specific requirements, including implementing a written Anti-Money Laundering program. This could lead to broader adoption of Know Your Customer checks and other measures.

Google addressed concerns over the policy impact on X following backlash from the crypto community, stating: “Non-custodial wallets are not in scope of Google Play’s Cryptocurrency Exchanges and Software Wallets Policy. We are updating the Help Center to make this clear.”

Ether climbs toward new highs as Standard Chartered ups target to $7,500

Standard Chartered has raised its Ether price forecast for 2025 to $7,500, up from a previous $4,000 target, citing a surge in institutional buying and the accelerating adoption of stablecoins following recent US regulatory changes.