Apple With New App Store Rules for Crypto but There’s a Catch

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

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

The new guidelines updated by the company on Monday provided more information on how it sees the entire crypto industry, including exchanges and non-fungible tokens.
Apple can work with trading venues as long as they have been licensed by the local watchdogs where the App Store operates.
The situation gets a bit more complicated once it comes down to in-app purchases. Should any crypto or NFT platforms want to sell such services, they need to comply with all Apple requirements and systems.
This could mean that they are unable to “include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-apple purchase.”
The tech behemoth is known for charging a 30% fee on any payments that go through its system.
The NFT community was rather unhappy about this update, but on the other hand, the industry could receive a massive boost given Apple’s size and stature, being the largest company by market cap, with a notable difference from its followers.

Featured Image Courtesy of Yahoo