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Apple's App Store Policies on Blockchain and NFTs Under Congressional Scrutiny

Apple's App Store Policies on Blockchain and NFTs Under Congressional Scrutiny

US lawmakers aim to ensure that Apple's App Store guidelines don't negatively impact the country's position in the emerging technologies domain.

A formal letter has been addressed to Apple CEO Tim Cook by United States Representatives Gus Bilirakis and Jan Schakowsky, raising concerns about the implications of the tech giant's App Store policies on developing technologies, such as blockchain and non-fungible tokens (NFTs). 

With the letter, the lawmakers seek information about the possibility of the App Store's guidelines unintentionally restricting the development and expansion of pioneering technologies

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Bilirakis and Schakowsky highlighted a consistent pattern in Apple’s strategies regarding its App Store policies, observing how the company exploited and simultaneously restricted the capabilities of crypto-related apps.

The representatives indicated that Apple accomplished this by enforcing the launch of pared-down, or "lite," versions of apps. These versions, they claimed, not only generated revenue for Apple but also reduced the overall usefulness of the apps.

The Representatives have voiced their concerns about the possible negative impact of Apple's strategies on the United States' position in the emerging technologies domain.

Lawmakers claimed that although Apple defends these restrictions as part of a "walled garden" security enhancement strategy, there is a broad-based worry that the company might be using the App Store as a weapon to stifle competition.

Bilirakis and Schakowsky underscored the necessity for Congress to understand the App Store guidelines and evaluate the extent to which these rules could obstruct innovation. In the letter, both lawmakers noted:

Our subcommittee remains committed to promoting full transparency and ensuring that Big Tech is held accountable for monopolistic behavior.

As Apple's App Store policies come under the magnifying lens of Congress, it underlines the increasing legislative focus on the actions of Big Tech companies, especially those that could potentially stifle the development of future techs like blockchain and NFTs.

It is worth noting that in 2022, Apple's App Store introduced new rules for NFT taxation, their use cases, and rules for listing crypto exchanges.

Gile K. , Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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