Decapping metalloenzyme that catalyzes the cleavage of the cap structure on mRNAs (PubMed:16199859). Removes the 7-methyl guanine cap structure from mRNA molecules, yielding a 5'-phosphorylated mRNA fragment and 7m-GDP (PubMed:16199859). RNA-decapping enzyme although it does not bind the RNA cap (PubMed:16199859). May contribute to gene regulation in multiple RNA pathways including monomethylguanosine- and trimethylguanosine-capped RNAs (PubMed:16199859). In oocytes, may play a role in the response to stress induced by heat shock, osmotic stress and anoxia (PubMed:18439994). Required for the developmental axon guidance and regrowth of PLM touch receptor neurons (PubMed:31983639). Early in embryogenesis, plays a role in ciliary shape formation in sensory neurons (PubMed:28887031). Promotes survival at high temperatures (PubMed:25061667). {Experimental EvidencePubMed:16199859, Experimental EvidencePubMed:18439994, Experimental EvidencePubMed:25061667, Experimental EvidencePubMed:28887031, Experimental EvidencePubMed:31983639}.