#AppleCryptoUpdate Apple's Crypto Stance Sparks Industry Debate
Apple's recent actions have stirred the crypto community. In India, Apple removed major crypto exchange apps like Binance, KuCoin, and OKX from its App Store following show-cause notices from the Financial Intelligence Unit for non-compliance with money laundering laws .
Globally, Apple's updated App Store guidelines now permit NFT-related services, such as minting and listing, but mandate the use of in-app purchases, disallowing external payment links . This policy, coupled with the continued enforcement of the 30% App Store commission, has raised concerns among developers about the viability of crypto and NFT apps on iOS .
Despite these restrictions, Apple has shown openness to blockchain technologies, allowing apps that facilitate cryptocurrency transactions, provided they operate in regions where they have appropriate licensing . Analysts suggest that if Apple integrates cryptocurrency services into its Wallet app, it could unlock significant revenue streams and position itself as a leader in the digital asset space .
