Crypto App Developers Gain Huge As Apple Agrees With EU Laws

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Apple will allow third-party apps that comply with EU laws.

In order to comply with new European Union (EU) anti-monopoly regulations, tech giant Apple is preparing to allow third-party app stores on its devices. This can be seen as a significant win for crypto and NFT app developers, at least in Europe. Apple now has strict guidelines for NFT apps that essentially require users to make in-app purchases subject to a 30% fee from Apple, while apps are not allowed to facilitate cryptocurrency payments. According to a December 13 Bloomberg report citing people familiar with the matter, under the new regulations, European customers could download alternative app marketplaces outside of Apple’s proprietary App Store, allowing them to download apps that avoid Apple’s 30% commission and the app. limitations.

According to a December 13 Bloomberg report citing people familiar with the matter, under the new regulations, European customers could download alternative app marketplaces outside of Apple’s proprietary App Store, allowing them to download apps that avoid Apple’s 30% commission and the app. limitations. The next accusation was that if NFT transactions couldn’t be done through Apple’s in-app purchase system, Apple wanted the wallet to disable them. In response to the EU’s Digital Markets Act, which aims to control so-called “gatekeepers” and ensure platforms behave fairly, Apple has decided to open up its ecosystem. One of the measures allows “third parties to interoperate with the gatekeeper’s own services”.

Only the EU would be affected by changes to Apple’s closed environment; other nations should pass legislation with comparable provisions, such as the Open App Markets Act that Senators Marsha Blackburn and Richard Blumenthal suggested to the US Congress. In an effort to protect customers from dangerous apps, the tech giant is considering imposing security standards for software not found on its store, such as Apple certification.

In response to the report that a “crypto app store” could be created and would be a “tremendous candidate” for a VC-backed company, Alex Salnikov, co-founder of NFT Rarible Marketplace, tweeted on December 13 . Companies must fully comply by May 2024 and it will come into effect in May 2023. Apple has not decided whether or not it will comply with a provision of the law that allows developers to integrate alternative payment methods into programs that do not involve Apple. If it complies, it could allow the use of cryptocurrencies in payment systems.

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