Its not clear it will be allowed on Android. Last week google removed all tethering Apps from Android markets.
I don't know much about bitcoin but I wanted to rectify on your sentence: market policies does not mean much on android since: A. you can have multiple, separate markets (e.g. Amazon App Store for Android) and B. on most devices you can sideload app legally and without hacks/jailbreaks (I think AT&T in the US is the only one in the world that locks this); just download from the web and install.
Good luck with bitcoin :)