the tech giant Apple is preparing to allow third-party app stores on its devices to comply with new European Union (EU) antitrust requirements, which could be seen as a big win for cryptocurrency app developers and developers. NFTs, at least in Europe.
According to the new rules, European customers could download alternative app markets to Apple’s App Store, allowing them to download apps that circumvent Apple’s 30% fees and app restrictionsaccording to a Bloomberg report on Dec. 13 citing people familiar with the matter.
Apple currently has strict rules for NFT apps that virtually force users to make in-app purchases subject to Apple’s 30% fee, and apps are not allowed to support cryptocurrency payments.
Apple’s enforcement of this rule led to the blocking of Coinbase’s self-custody wallet app update on December 1, as Apple wanted to “collect 30% of the gas commission” through in-app purchases, something that is “clearly not possible”, according to Coinbase.
He then claimed that Apple wanted the wallet to disable NFT transactions if they could not be made through its in-app purchase system.
Alex Salnikov, co-founder of NFT Rarible marketplace, tweeted on December 13 in response to the news that a “cryptocurrency app store” could be built and would be a “great candidate” for a VC-backed startup.
Apple’s measure to open its ecosystem responds to the EU Digital Market Law, whose objective is to regulate the so-called “guardians” and guarantee that the platforms behave fairly; Part of the measures allow “third parties to interoperate with the guardian’s own services.”
It will be applicable from May 2023 and companies must fully comply with it in 2024.
Apple has not yet decided if it will comply with a part of the Law that allows developers to install alternative payment systems within applications in which Apple does not participate.. If it complies, it could open payment systems that allow cryptocurrencies.
The tech giant is looking into imposing security requirements for software outside of its store, like Apple verification, in an attempt to protect users from unsafe apps.
Changes to Apple’s closed ecosystem would only apply in the EU; other regions would have to pass similar lawssuch as the Open App Markets Act proposal in the United States Congress by Senators Marsha Blackburn and Richard Blumenthal.
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