Get All Access for $5/mo

Apple's Anti-NFT, Blockchain, and DLT App Store Policies Launch Lawmaker Probe United States Representatives Gus Bilirakis and Jan Schakowsky highlighted the tech giant's guidelines that prioritise its profitability and diminish the utility of such applications. They particularly mention cases related to Coinbase and Axie Infinity.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Apple

United States Representatives Gus Bilirakis of the Republican Party and Jan Schakowsky of the Democratic Party have penned an official letter raising their concerns about Apple's App Store policies pertaining to emerging technologies such as non-fungible tokens, blockchain, and distributed ledger technologies.

The duo highlighted the tech giant's guidelines that prioritise its profitability and diminish the utility of such applications. They particularly mention cases related to Coinbase and Axie Infinity.

In December 2022, Coinbase, the cryptocurrency exchange platform, accused Apple of forcing them to remove NFT transfers from its Wallet app on iOS. "For anyone who understands how NFTs and blockchains work, this is clearly not possible. Apple's proprietary In-App Purchase system does not support crypto so we couldn't comply even if we tried. The biggest impact from this policy change is on iPhone users that own NFTs - if you hold an NFT in a wallet on an iPhone, Apple just made it a lot harder to transfer that NFT to other wallets, or gift it to friends or family. Simply put, Apple has introduced new policies to protect their profits at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem," shared the exchange in a series of threads on X (formerly Twitter).

Last week, Apple was slammed by a lawsuit worth USD 1 billion for similar reasons. The lawsuit was brought by more than 1,500 app developers in the UK over App Store fees. A commission of 15-30 per cent is levied on some app makers for the use of an in-app payment system.
Previously, Apple came under fire for being biased against competitors such as Spotify (direct rival to Apple Music) and Netflix (direct competitor to Apple TV Plus).

"It is essential that Congress fully understand the App Store Guidelines and the extent these guidelines limit innovation and American technology leadership. Apple's support of innovative new technologies such as blockchains, NFTs, and other distributed ledger technologies could solidify American leadership of these technologies," read the formal letter.

They've also requested responses to its 21 questions, including 1. Does Apple plan to build apps using blockchain or related technologies?, 2. How are App Store reviews prioritized? Does the App Store review process prioritize apps that support in-app purchases?, and 3. Has Apple explored how the "secure element" could be used to enable blockchain innovation and the security of user's information?

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

News and Trends

Aadhaar-Driven Financial Inclusion: Catalyzing Regional Economic Growth in Rural India

The emergence of digital tools such as the Aadhaar-enabled Payment System (AePS), which uses the biometric-based Aadhaar identity system for cash transfers and regular banking tasks, has become a tool to bridge the gap and improve financial inclusion