Apple blocks NFT transfers: Coinbase is indignant

Apple’s crypto rebellion is entering the second round: now the tech company specifically blocks NFT transfers through the Coinbase wallet for iOS devices. In the future, such transactions should only be possible via in-app purchases. Does Apple want to secure its profits at the expense of its users?

Apple again makes negative headlines in the crypto industry. As Coinbase explained in a December 1 tweet, NFT transfers through Coinbase Wallet will now be blocked on iOS devices. The reason for this is Apple’s requirement to pay the required gas fees for NFT transactions through their in-app purchase system.

If Coinbase complied with this request, the company would be forced to pay the infamous Apple tax and pay the tech company 30% Ethereum gas fees on NFT purchases.

However, since said in-app purchase system does not support cryptocurrencies, this is not possible, Coinbase explained. The exchange could therefore not meet this condition even if it wanted to.

Coinbase criticizes Apple’s policies. In the team’s eyes, Apple’s request amounts to an attempt to absorb some of the email costs into open internet protocols. The exchange also said:

“[…] If you hold an NFT in a wallet on your iPhone, Apple just made it even harder to transfer that NFT to other wallets or gift it to friends and family. Simply put, with its new policies, Apple is securing profits at the expense of its consumers, their NFT investments, and developer innovation in the crypto ecosystem.

Nevertheless, the exchange hopes for a solution and tells Apple that it is willing to help. However, given the tech company’s hardline stance, that seems highly unlikely.

The famous Apple tax

The Apple tax has come under increasing criticism over the past 18 months. One of the most notable incidents involved Epic Games, the developer of the hit game Fortnite. Epic Games even went to court but lost the case. It also made other businesses realize how difficult it could be to avoid this tax..

Elon Musk has also criticized the tax in recent days, after which he collected some himself. Musk said Apple secretly levied a 30% tax, although it was never secret. Musk previously feuded with the tech company, which threatened to pull Twitter from the App Store. According to his own statements, however, this matter has now been clarified.

Policies Affecting NFT and Cryptocurrencies

Apple has long been a thorn in the side of the NFT industry. The company previously required in-app purchases to be used to purchase NFTs. As a result, start-ups have been forced to limit the functionality of their appswho first cut the wind from their sails.

With popular smartphones and equally popular operating systems, Apple has tremendous influence over access to cryptocurrencies. Currently, Samsung is making remarkable progress in developing a crypto smartphone, which the company wants to meet the wishes of the crypto community.

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