Apple With New App Store Rules For Cryptocurrency But There’s A Problem

Apple users will be able to enjoy some NFT features on their devices, according to the company’s latest update on the matter.

However, the Cupertino, California-based giant wants to control the entire process.

  • The new guidelines updated by the company on Monday provided more information about how it views the entire crypto industry, including exchanges and non-fungible tokens.
  • Apple can work with markets as long as they are authorized by the local monitoring authorities where the App Store operates.
  • The situation becomes more complicated when it comes to in-app purchases. If any crypto or NFT platform wants to sell such services, it must comply with all requirements and regulations of Apple.
  • This may mean that they cannot “include buttons, external links, or other prompts that prompt customers to purchase mechanisms other than purchasing from Apple.”
  • The tech giant is known to charge a 30% fee on all payments made through its system.
  • The NFT community was not completely satisfied with this update, but on the other hand, the industry could get a huge boost given the size and position of Apple, being the largest company by market capitalization, with a marked difference from its followers.

Featured image courtesy of Yahoo

Apple’s post appeared with the new App Store rules for Crypto but there is a catch first on CryptoPotato.

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