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FRAMEWORK FOR SECURITIES REGULATION OF CRYPTOCURRENCIES
Apple's new policies regarding NFT sales and services on the App Store require them to make use of in-app purchases, from which it takes a 30 percent cut. The guidelines also include new rules for cryptocurrency apps and services as well. The rule regarding cryptocurrency would seem to imply a crackdown on cryptocurrency services operating in countries where they are unlawful.
China has c racked down heavily on cryptocurrency , so this may be Apple covering its rear as a liability there and in similar countries that have restricted cryptocurrency exchange. Stay tuned as we continue to watch for further updates in the NFT and crypto space.
He found his way to the Shacknews roster in late and has worked his way to Senior News Editor since. Apple has clarified the rules on NFTs, which can be a digital representation of a real-life asset such as artwork and are usually purchased using cryptocurrency. The guidelines say apps may use in-app purchases to sell NFTs and sell services related to them, such as minting, listing, and the transferring of these tokens. Apps can also allow users to browse NFT collections owned by others so long as the apps do "not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase.
Users can view the NFTs they own within an app provided the token does not "unlock features or functionality within the app. But Apple is saying some of this will not be allowed.
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