United States House Representatives Gus Bilirakis and Jan Schakowsky have expressed concerns that Apple’s App Store policies might hinder the growth of the cryptocurrency sector.

In a letter addressed to Apple’s CEO, Tim Cook, the representatives warned that the company’s current guidelines could potentially undercut US leadership in emerging technologies, such as blockchains, nonfungible tokens (NFTs), and other forms of distributed ledger technology.

Allegations of Market Manipulation?

Bilirakis and Schakowsky, respectively, serve as the Chairman and Ranking Member of the bipartisan House Subcommittee on Innovation, Data, and Commerce. They suggested that Apple might leverage its App Store rules for undue competitive advantage.

A key issue underscored in the letter is the challenge faced by Web3 games and app developers, many of whom monetize through cryptocurrency integrations and NFT sales.

Given the vast user base of iOS, having their apps on the App Store is vital. However, the lawmakers drew attention to Apple’s policy which mandates a 30% commission on gas fees tied to NFT transactions.

Tech Giants in Hot Water Over NFT Policies

The representatives highlighted the discontent expressed by companies like Coinbase and Axie Infinity. Due to Apple’s policies, Coinbas

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Author: James Morales

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