Apple Faces Scrutiny Over App Store Policies Amid NFT Growth

Apple Inc. is underneath scrutiny for its App Retailer practices, notably in relation to the rising sectors of cryptocurrency buying and selling and non-fungible tokens (NFTs). 

On July 28, Home Representatives Gus Bilirakis (R-Fla.) and Jan Schakowsky wrote a letter to Apple CEO Tim Cook, requesting detailed details about its App Retailer insurance policies. 

They expressed considerations concerning the potential limitations these insurance policies may impose on the event of crypto and blockchain applied sciences.

App Retailer Insurance policies Increase Considerations

The representatives famous that it appeared Apple was utilizing its App Retailer pointers to revenue and scale back the usage of apps in crypto, NFT, and different blockchain know-how. 

They highlighted that Coinbase had beforehand accused Apple of forcing it to take away NFT transfers from its App Retailer app. Comparable accusations have been made by many NFT corporations, who declare Apple made them launch “Lite” variations of their apps.

Supply: Depositphotos

Impression on Blockchain and Rising Applied sciences

These considerations come amid broader worries that the App Retailer’s insurance policies may hinder American management in blockchain and different rising applied sciences. 

The representatives requested 21 detailed questions, which Apple should reply by August 14, 2023. 

These questions vary from normal inquiries concerning the firm’s app admittance insurance policies associated to safety and knowledge privateness to extra particular ones, corresponding to whether or not Apple has explored Solana’s protected factor characteristic and if it intends to develop apps utilizing blockchain-related applied sciences.

Trade Leaders Specific Help

Crypto Council CEO Sheila Warren expressed assist for the federal government’s queries, stating that they present cryptocurrency just isn’t a political subject and that each Republicans and Democrats are critical about America’s function sooner or later improvement of the blockchain and cryptocurrency market. 

Coinbase CLO Paul Grewal additionally commented, suggesting it’s time Individuals rethink their strategy to digital currencies and the applied sciences behind them.

Potential Impression on Crypto and NFT Sectors

The result of this inquiry may have vital implications for the crypto and NFT sectors and the way they’re regulated on Apple’s App Retailer. Because the deadline for responses approaches, stakeholders within the blockchain and cryptocurrency business eagerly await Apple’s solutions and any potential adjustments to its App Retailer insurance policies.