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

SSA

26-10-2022

By sandhya

Image credit:Google

Apple Clarifies Its Rules on Cryptocurrencies and Non-Fungible Tokens (NFTs) 

Describe what apps are allowed to do with these technologies. 

Apps can offer services to sell NFTs and sell related services as long as they use Apple's in-app purchases. 

All of this means that any trading service of NFTs must use Apple's controversial in-app payment system. 

Apple takes a cut of up to 30% of in-app payments. 

On crypto exchanges, Apple said in its updated App Store rules on Monday that apps may facilitate "transactions or transmissions of cryptocurrency on permitted exchanges." 

But the app is only offered in countries or regions where a crypto exchange is licensed and authorized to use. 

"Apps may not use their own tools to unlock content or functionality," such as cryptocurrencies or cryptocurrency wallets. 

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