Apple, a major player in the IT industry, is getting ready to let third-party app stores on its devices in order to comply with new anti-monopolistic rules from the European Union (EU). At least in Europe, this might be viewed as a huge win for cryptocurrency and NFT app developers.
Under the new rules, European customers would be able to download alternative app marketplaces outside of Apple’s exclusive App Store, allowing them to download apps that avoid Apple’s 30% commissions and app restrictions, according to a Dec. 13 Bloomberg report citing people familiar with the situation.
Apple now has severe rules for NFT apps, effectively requiring users to make in-app purchases subject to a 30% Apple charge and forbidding apps from facilitating bitcoin payments.
Because Apple intended to “collect 30% of the gas price” through in-app purchases, which is “clearly not conceivable,” the self-custody wallet app update from Coinbase was prohibited on December 1 as a result of Apple’s implementation of its law.
Next, it was said that Apple intended the wallet to deactivate NFT transactions if they couldn’t be completed via the in-app purchase system.
The co-founder of NFT marketplace Rarible, Alex Salnikov, tweeted on December 13 in response to the claim that a “crypto app store” may be developed and would be a “great candidate” for a venture capital-backed company.
Apple has chosen to open its ecosystem in response to the EU’s Digital Markets Act, which aims to regulate so-called “gatekeepers” and ensure that platforms act fairly. “Third parties may inter-operate with the gatekeeper’s services,” according to one of the measures.
It will go into effect in May 2023 and businesses must fully comply by May 2024. Apple hasn’t decided whether it would follow a clause of the Act that allows programmers to incorporate other payment methods within apps that don’t involve Apple. Cryptocurrencies could be able to be utilized in payment systems if it satisfies.
The internet giant is thinking about implementing security criteria for programs not present in its marketplace, like Apple software, to protect users from harmful apps.
The changes to Apple’s restricted environment would only apply to the EU; legislation with identical measures would need to be passed in other countries instead, like the Open App Markets Act that US Senators Marsha Blackburn and Richard Blumenthal have proposed for the US Congress.
