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Apple tightens its rules on crypto and NFTs in its App Store

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Apple has clarified its App Store policy regarding cryptocurrencies and non-fungible tokens (NFTs).

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apple It clarifies the rules around cryptocurrencies and non-fungible tokens (NFTs) and shows what apps can do with these technologies.

As for cryptocurrency exchanges, Apple said in its App Store rules updated Monday that apps may facilitate “trading or sending cryptocurrencies on approved exchanges.” However, this app can only be offered in countries or regions that have licenses and permits to operate crypto exchanges.

“Apps may not use their own mechanisms to unlock content or functionality,” such as cryptocurrencies or cryptocurrency wallets.

Apple has clarified its rules regarding NFTs. NFTs can be digital representations of real assets, such as artwork, and are typically purchased using cryptocurrencies.

According to the guidelines, apps can sell NFTs using in-app purchases and services related to NFTs, such as issuing, listing and transferring these tokens. And unless the app “contains buttons, external links, or other calls to action that direct customers to a purchase mechanism other than in-app purchases,” the app may not share his NFT collection owned by other users. You can also browse.

All of this means that any kind of trading service for NFTs must use Apple’s in-app payment mechanism. Apple covers up to 30% of in-app payments. This in no way bans NFTs, but given Apple’s 30% stake, it does put a significant limit on the types of services that can be offered in relation to NFTs.

Users can view NFTs they own within the app as long as the token does not “unlock functionality within the app”. Users often purchase NFTs as a way to access exclusive parts of a service or as a kind of membership card for apps. But Apple says some of this is not allowed.

Apple’s 30% cut has been around for a long time Criticism from app makers They accuse the tech giant of monopolizing in-app purchases. Apple claims that controlling the App Store ensures the security of apps and payments. It also says that the App Store has created a successful app ecosystem that allows developers to make money.

30% cut is high-profile litigation Fortnite developers Epic Games and Apple.

in cryptocurrency turbulent and turbulent yearthe market as a whole has lost about $2 trillion since its peak in November.

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