Apple store threatens encryption innovations

Apple store :

threatens encryption innovations

U.S. House of Representatives Gus Bellrakis

and Jean Schakowski expressed concerns that

Apple's App Store policies could hinder the growth of the cryptocurrency sector.

In a letter :

addressed to Apple CEO Tim Cook :

Representatives warned that the company's current guidance

could affect U.S. leadership in emerging technologies

Such as blockchain

1. non-replaceable codes (NFTs)
2. and other forms of
3. distributed ledger technology.

Claims of market manipulation?

• Pilrakis and Schakowski both suggested that

• Apple might take advantage of its App Store rules

• for an unnecessary competitive advantage.

One of :

the main problems emphasized in the message is the challenge faced by developers of Web3 apps and games, many of whom invest through cryptocurrency integration and NFT sales.

Given the vast base of iOS users

having their apps on the App Store is vital.

However :

lawmakers drew attention to Apple's 30%

commission policy on gas charges associated with NFT transactions.

The actors highlighted the resentment expressed by companies such as Coinbase and Axie Infinity. Due to Apple's policies, Coinbase suspended NFT conversions for users of its iOS portfolio in the past year.

Axie Infinity :

• on the other hand, had to reduce

• the NFT functionality in its iOS version to align

• with Apple's guidelines, limiting the full game experience for iOS users.

The message clearly indicates that many see Apple's use of

App Store policies as a tool against its competitors.

It also highlights allegations that Apple imposes inconsistent restrictions and often hampers app improvements that would benefit users.

Seeking clarity :

lawmakers sought additional details from Apple regarding

its App Store policies and enforcement.

hey also :

enquired about the company's application review mechanisms.

Apple was

given a deadline of 14 August to respond.

1. Apple's relationship
2. with blockchain-related apps
3. has undergone shifts over time.

The inclusion of

Axie Infinity's App Store in May was a landmark :

Especially given Apple's previous reservations about hosting Web3 apps for iOS.

Previously :

1. iOS users had to

1. connect a cryptocurrency

1. wallet to get NFT inside the app.

Now :

they can use Apple Pay through their regular credit or debit cards.

While Apple appears to be preparing to use Web3 apps

critics remain concerned about

the tech giant's overall impact on the cryptocurrency industry.