Apple Inc. is under intensive scrutiny for its App Store practices, mainly with regard to the growing industries of crypto trading and nonfungible tokens (NFTs). On July 28, Jan Schakowsky and House Representatives Gus Bilirakis (R-Fla.) wrote a letter to Apple CEO Tim Cook, Asking for detailed information about its App Store policies.
In that letter, they expressed fears about the possible limitations that these policies might impose on the development of crypto and blockchain technologies.
In that context, Apple seems to be facing scrutiny over most of its App Store policies about NFTs and crypto with House representatives looking for answers on possible restrictions for the budding blockchain technology.
App Store Policies Raise Issues
The representatives said that it appeared Apple was using its App Store guidelines to profit and minimize the use of apps in NFT, crypto, and other blockchain technology.
They mentioned that Coinbase had recently accused Apple of forcing it to eliminate NFT transfers from its App Store app. Similar accusations have been made by most NFT firms, who allege that Apple compelled them to launch ‘Lite’ versions of their apps.
Effect On Emerging Technologies And Blockchain
These fears come amid increased worries that the App Store’s policies may hinder American leadership in blockchain and most of the other emerging technologies. The representatives asked 21 detailed questions, which Apple needs to answer by August 14, 2023.
The questions in the letter range from general inquiries about the firm’s app admittance policies linked to security and data privacy to more particular ones, including whether Apple has explored Solana’s safe element feature and if it wants to develop apps using blockchain-related technologies.
Industry Leaders Express Support
Crypto Council CEO Sheila Warren showed strong support for the government’s queries, saying that they show crypto is not a political issue and that both Democrats and Republicans are serious about America’s role in the future development of the crypto and blockchain market.
Coinbase CLO Paul Grewal also commented on this issue, saying that it is time Americans need to reconsider their approach to digital currencies and the technologies that power them.
Possible Impact On NFT And Crypto Industries
The outcome of this inquiry may have a considerable implication for the crypto and NFT industries and how they are regulated on Apple’s App Store. As the deadline for responses gets closer, stakeholders in the crypto and blockchain industry eagerly await Apple’s responses and any possible changes to its App Store policies.
