US Lawmakers Concerned Over Apples Crypto and NFT Policies

Lawmakers Raise Concerns About Apple’s Crypto and NFT Policies

United States lawmakers Gus Bilirakis and Jan Schakowsky wrote a letter to Apple CEO Tim Cook expressing concern about the company’s App Store guidelines.
They are worried that the guidelines may restrict the growth of emerging technologies like blockchain and NFTs.
The letter asks Cook for detailed information and documents regarding the App Store’s policies and highlights concerns about Apple’s plans for blockchain-based apps.
One of the policies mentioned is the requirement for blockchain projects to give up 30% of their gas fees to the App Store.
Bilirakis and Schakowsky, who hold ranking positions in the Innovation, Data, and Commerce Subcommittee, want Congress to understand the implications of the guidelines on innovation and tech leadership.

Crypto Community Applauds Investigation into Apple

Key figures in the crypto space, including Coinbase’s Chief Legal Officer Paul Grewal and Blockchain Association CEO Kristin Smith, have praised the lawmakers’ inquiry.
They believe that Apple’s App Store policies could have arbitrary and negative consequences for innovation and tech companies.
Former App Store director Phillip Shoemaker, who worked on the original guidelines, has previously stated that the policies were rewritten to position Apple as a “gatekeeper” to emerging technologies.
Shoemaker claims that the policies intentionally maintain a strict stance against crypto and NFTs.
The lawmakers have given Apple until August 14 to respond to their questions and concerns.

Hot Take: Apple’s App Store Guidelines Should Support Innovation, Not Restrict It

The concerns raised by lawmakers about Apple’s App Store guidelines restricting the growth of blockchain and NFT technologies are valid. It is important for Apple to ensure that its policies support innovation and do not hinder the development of emerging technologies. By requiring blockchain projects to give up a significant portion of their fees to the App Store, Apple is potentially limiting the viability and profitability of these projects. It is encouraging to see key figures in the crypto community, along with bipartisan lawmakers, advocating for an investigation into Apple’s crypto and NFT policies. This inquiry could lead to more transparent and favorable guidelines that promote innovation and support American technological leadership.