Apple Faces Scrutiny Over Crypto and NFTs
- The Pair of House Members are asking Apple to explain in detail the App Store’s policies.
- The lawmakers have added 21 detailed questions to Apple.
In the evolving crypto market, Apple Inc., the multinational technology company, has once again come under the microscope for its App Store practices. However, this time the focus is on the emerging sectors of cryptocurrency trading and non-fungible tokens (NFT). It faces legislative scrutiny over its App Store policies for Crypto trading and NFTs.
On July 29, the Pair of House Members wrote a letter to Apple Inc.’s chief executive officer, Tim Cook, asking him to explain in detail the App Store’s policies and their limitations on restricting blockchain technology and cryptocurrency payments.
In the letter, they added that specifically, it appears that Apple has used the App Store policies to maximize its own profit and minimize the usefulness of the app by containing NFTs and other blockchain-related technologies.
Coinbase’s Accusation on Apple’s App Store Policies
The lawmakers also highlighted the leading crypto exchange Coinbase’s allegation against Apple. On December 2, 2022, the exchange accused App Store of forcing it to remove the NFT transfers from its wallet app on iOS. Similarly, several NFT companies have made this accusation against it. It claims that it forced them to roll out the lite version of their apps.
These continuous allegations made lawmakers concerned that Apple’s App Store policies. Moreover, it may hinder US leadership in emerging technologies like cryptocurrencies, NFTs, and other blockchain technologies.
Moreover, with these, the lawmakers have added 21 detailed questions to App Store policies, to be answered by August 14, 2023. The questions are related to Apple’s access policies for data privacy and security guidance. There are also some specific questions, like whether Apple is planning to build an app using blockchain-related technology.
Read more: https://thenewscrypto.com/apple-faces-scrutiny-over-crypto-and-nfts/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
