Apple Unveils Stricter App Store Rules for Crypto and NFTs — Critic Says Firm Wants to Keep Money in Its Ecosystem

Bitcoin News

“In its updated guidelines for apps in the Apple App Store unveiled on October 24, Apple Inc. said crypto exchange apps “may facilitate transactions or transmissions of cryptocurrency on an approved exchange.” In addition, such transactions can only be offered “in countries or regions where the app has appropriate licensing and permissions to provide a cryptocurrency exchange.” The technology company also clarified that crypto wallet apps “may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization.” However, according to the new guidelines, apps are prohibited from mining crypto and offering “currency for completing tasks, such as downloading other apps.” The only exception to the crypto-mining prohibition is when “the processing is performed off [the] device.” Besides limiting the use of the crypto-transferring apps, the latest guidelines state that developer apps “may not use their own mechanisms to unlock content or functionality, such as license keys, augmented reality markers, QR codes, cryptocurrencies and cryptocurrency wallets.” Similarly affected by this requirement are digital gift cards, certificates, vouchers, and coupons which are redeemable for digital goods or services. Apps utilizing the App Store’s in-app purchase function are subject to Apple’s 30% fee, which has been criticized by app creators in the past.”