Apple Restrictions On Cryptocurrency

Apple Updates App Store Guidelines for Cryptocurrencies and NFTs

Clarified Rules and Guidance for App Developers

Apple has recently updated its App Store guidelines with new and clearer language explaining its policy towards cryptocurrencies and non-fungible tokens (NFTs).

The updated guidelines aim to provide developers with a better understanding of what types of apps are permitted on the App Store. This move comes after Apple faced criticism for its previous restrictions on cryptocurrency technology, which were seen as harming competition.

The new guidelines state that apps may facilitate transactions using cryptocurrency, provided that they comply with all applicable laws and regulations. However, apps that offer their own cryptocurrency exchanges or wallets are not permitted. Additionally, apps that allow users to purchase NFTs are allowed, but must use Apple's in-app purchase system.

Apple's updated guidelines are expected to have a significant impact on the development of cryptocurrency and NFT apps. Developers will need to carefully review the new guidelines to ensure that their apps comply.

Key Changes in the Updated Guidelines

• Cryptocurrency exchanges and wallets are not permitted.
• Apps may facilitate cryptocurrency transactions if they comply with all applicable laws and regulations.
• Apps that allow users to purchase NFTs are allowed, but must use Apple's in-app purchase system.

Conclusion

Apple's updated App Store guidelines provide clearer guidance for app developers on the use of cryptocurrencies and NFTs. These changes are expected to have a significant impact on the development of these types of apps.