• Two US lawmakers have expressed their concerns over Apple’s crypto and NFT policies.
• The letter questioned whether the company is leveraging its app rules to boost revenue at the expense of crypto-related applications.
• Key figures in the crypto space have welcomed the inquiry.
US Lawmakers Raise Concerns Over Apple’s Crypto and NFT Policies
Two United States lawmakers, Congressman Gus Bilirakis of Florida and his Illinois counterpart Jan Schakowsky, have written to Apple CEO Tim Cook expressing concern that Apple’s App Store guidelines could potentially curb the growth of emerging technologies such as blockchain and non-fungible tokens (NFTs).
Letter Questions Whether App Rules Are Being Leveraged To Boost Revenue
The letter posed several questions to Cook, asking for detailed information and documents regarding the App Store’s policies. It also highlighted concerns about Apple’s plans to develop blockchain-based apps, questioning whether the company is leveraging its app rules to boost revenue at the expense of crypto-related applications. One of the anti-crypto policies cited in the letter included the requirement for blockchain projects to relinquish 30% of their gas fees to the App Store.
Coinbase Wallet Claimed Compliance Was Impossible
In December 2022, Coinbase Wallet claimed that such a requirement was impossible to comply with since Apple’s in-app purchase system did not support crypto.
Inquiry Welcomed By Crypto Space Figures
Key figures in the crypto space have welcomed this inquiry from Bilirakis and Schakowsky who both hold ranking positions in Congress‘ Innovation, Data, and Commerce Subcommittee.