Apple Backpedals on NFT & Crypto App Restrictions Following Legal Pressure

Cupertino caves—App Store drops draconian crypto rules after courtroom smackdown. Web3 devs cheer; Wall Street shrugs (yet another ’disruptive’ tech now playing by old-money rules).

Key changes: NFT apps can now process sales, crypto payments get green light—no more 30% ’Apple tax’ on blockchain transactions. But don’t call it decentralization when a $3T company still controls the gates.

Closing thought: When even the walled garden starts growing weeds, maybe the ’future of finance’ is just the same oligarchy with fancier ledger entries.

• Apple now allows external links for NFT purchases and secondary marketplaces.
• Apple maintains restrictions on crypto mining and token rewards in apps.
• Court ruling forces Apple to update guidelines and allow more developer freedom.

Apple modified its iOS App Store rules after a U.S. District Court decision in the Epic Games antitrust case. The court ordered Apple to drop its payment fees on purchases outside the App Store and eliminate its restrictions on external payment links. This policy shift by Apple enables developers to create apps that can direct users to external payment methods and display third-party NFTs.

A U.S. District Court ruled on the legal battle between Epic Games and Apple about its App Store practices. The court found Apple to have violated an earlier court order and limited developers’ ability to direct users to external websites. The new guidelines allow developers to integrate LINK buttons that direct users to secondary NFT marketplaces and external payment methods. However, Apple still restricts the use of applications to mine cryptocurrencies or distribute token rewards. 

Apple’s New Policies Supports NFT and Crypto Innovation

The updated policies enable developers to list and transfer inside the App but purchases must be made outside the app. The modification intends to promote innovation so that innovative crypto-native applications can enter the iOS platform. OpenSea and similar apps that were previously restricted now allow users to browse third-party NFTs.

Nonetheless, Apple still restricts the use of cryptocurrencies across its applications. The updated policies prohibit applications from ICO issuance or internal generation of cryptocurrencies. Moreover, Apple restricts iOS devices from mining crypto.

The NFT and cryptocurrency sectors have welcomed the court’s decision and Apple’s revised policies. Experts believe these developments could foster innovation to allow developers to create mobile applications that interact with digital assets. This follows a similar trend in the tech industry where major players such as Google have eased their NFT restrictions in mobile apps.

Tech Companies Vs Regulators

Apple retains several restrictions despite the new opportunities under the court’s decision. Apple has expressed dissatisfaction with the decision and has vowed to appeal. In a show of defiance, Apple has only made the modifications on the U.S. App Store.

The court decision shows the increased tension between major tech companies and regulatory authorities. Major tech companies such as Apple continue to face challenges about their app store policies due to the shift in the legal landscape. This decision represents a major step in discussion about app store fees as well as developer freedoms in the digital asset space.

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