New Apple rules double down on 30% NFT 'tax' and geo-limits exchanges
Apple has published rules for NFTs for the first time while clarifying rules around cryptocurrency payments and crypto exchanges. Technology heavyweight Apple has clarified its App Store rules around nonfungible tokens (NFTs) and cryptocurrency exchanges marking the first time its codified specific rules for NFTs.The new rules confirm how NFT purchases will be taxed and what they can and can't be used for, while also clarifying rules around when a crypto exchange app can be listed. The Oct. 24 update to its App Store guidelines saw language added that allows fo in-app purchases of NFTs,....
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Apple published rules for NFT for the first time which included a 30% NFT “tax” and geo-limit exchanges. In this week’s newsletter, read about how Apple released its first-ever set of rules for nonfungible tokens (NFTs), including a 30% “tax” and limits on how NFTs can be bought and exchanged. Check out how NFTs have the potential to change museum experiences in the future and how OpenSea revised its NFT rarity ranking protocol after feedback from the community. In other news, find out how NFTs are used to democratize scheduled TV programming in the era of Web3. Last but not least, NFT....
Following Apple Pay’s much-hyped payment system’s launch and lukewarm reception across many markets, the platform’s release last week in the United Kingdom has already encountered some problems with a double-spend issue being the most notable. Apple Pay can cause an economic misfire with users of the ever popular public transportation service, the Transport for London, under certain circumstances. This has happened often enough to cause an official alert to be disseminated from the iconic transit system regarding the use of this new form of payment. The problem is when a payment is made....
According to Apple’s latest guidelines for developers seeking to have their apps included in the App Store, crypto exchange applications should only facilitate the transfer of crypto funds to approved exchanges. Where payments are needed to unlock features or functionality, Apple says apps may only “use in-app purchase currencies.” Only In-App Purchase Currencies May Be Used In its updated guidelines for apps in the Apple App Store unveiled on October 24, Apple Inc. said crypto exchange apps “may facilitate transactions or transmissions of cryptocurrency on an....
Apple is known to take advantage of it’s power positioning in the mobile software world. However, Apple has been quietly restrictive with limited public-facing perspective around blockchain-related technology including crypto and NFTs. The NFT momentum has changed that in recent months, despite a broad crypto bear market, and has led Apple to include policy changes […]
Apple Pay has been touted as one of the most innovative ways to pay with a mobile device. Whether or not that will be the case, remains to be seen. But ever since Apple Pay launched in the United Kingdom, it is causing issues with the London Underground. Using Apple Pay will put the user at risk of being overcharged for their journey, which not exactly how this system is supposed to work. Mobile payments are on the rise, and manufacturers and payment processors are scrambling to cobble together a mobile payment solution for the entire world to use. But even tech giants such as Apple, who....