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Apple introduces new App Store rules for crypto and NFT payments, know what changed

Highlights

Apple will now allow apps to trade in digital tokens and currency.
For this, the company has introduced new rules of the Apple App Store.
According to the new rule, the apps will allow users to view their own NFTs.

New Delhi. New guidelines for the Apple App Store have come out. The new rules explain the company’s policy towards payments made through non-fungible tokens (NFTs) and cryptocurrencies. The Cupertino-based company will now allow apps to trade in digital tokens and currencies. Provided that those exchanges have the necessary regional license. In the updated guidelines, Apple says the apps can be used to sell services related to NFTs such as minting, listing and transfer, and to make in-app purchases.

According to the new rule, the apps will allow users to view their own NFTs. Provided that the NFT ownership does not unlock the Service or Functionality within the App. Additionally, Apps may allow Users to browse NFT collections owned by others, but with the condition that the App may not include buttons, external links, or other calls to action that allow Customers to make in-app purchases. except for other purchasing mechanisms.

Apple charges 30%
The iPhone Makers specifically guides against the functionality of any app that allows NFT holders to unlock features or functionality within the app. It is worth noting that Apple charges 30% for in-app purchases.

(iii) also amended the rule
Please note that Apple has also modified the App Store’s rule 3.1.5 (iii) to add cryptocurrency exchanges. Now apps can facilitate the transaction of cryptocurrency on an approved exchange. This requires that the app where the cryptocurrency is being exchanged must have the appropriate license and permissions. It is worth mentioning that cryptocurrency exchange apps such as Coinbase and Binance are already available on the Apple Store. After the new guidelines, app developers will now get guidance for their businesses.

Update Mac line computers
In another update, Apple has started rolling out the latest macOS Ventura to its Mac line of computers. The new operating system comes with features like stage manager, live captions for all audio content, live text in videos and message edit options.

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