Crypto app developers will benefit from the upcoming EU laws allowing alternative app stores and apps without Apple’s approval.
A massive win for crypto and NFT app developers may come soon as Apple prepares to permit third-party app stores on its handsets to comply with EU antimonopolistic requirements.
According to a Dec. 13 Bloomberg report, European customers could download alternate marketplaces instead of Apple’s proprietary App Store under new rules, thus bypassing Apple’s 30% commissions and app restrictions.
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Apple’s strict rules impose the 30% commission Apple charges for in-app purchases on NFT apps. In contrast, cryptocurrency payments cannot be supported by apps.
Apple enforced its rule by implementing in-app purchases to collect 30% of the gas fee.
According to Apple, NFT transactions would be disabled if they couldn’t do via its in-app acquisition system.
Founder Alex Salnikov tweeted on Dec. 13 that an experience capital-backed startup would make an “excellent choice” if a cryptocurrency app store could be built.
In response to the EU’s Digital Markets Act, Apple has announced plans to open its ecosystem and support reasonable platform behavior, including allowing “interoperability between third-party services.”
Beginning May 2023, businesses must relent fully by 2024.
Developers who do not use Apple operating systems may install alternative payment systems within their apps if they comply with this part of the Act.
Apple has yet to decide if it will adhere to this part of the Act. If it yields, it could open up payment systems enabling cryptocurrencies.
Also Read: Cryptocurrency is now legal in Brazil
As part of Apple’s security efforts, the company is considering security requirements for software not available in its store, such as requiring Apple verification to protect users from unsafe apps.
Similarly, the Senates Marsha Blackburn and Richard Blumenthal proposed an Open App Markets Act in the United States Congress to change Apple’s closed ecosystem.