Apple updates cryptocurrency and NFT rules on App Store
Apple has updated its App Store Review guidelines to reflect new rules for apps that offer cryptocurrency and non-fungible tokens, or NFTs. Specifically, Apple clarifies that the App Store does not allow the use of cryptocurrencies for in-app purchases.
What developers can and cannot do with cryptocurrency and NFTs
With the revised guidelines, developers are now better guided about what they can and cannot do. This is especially true when dealing with cryptocurrency and NFTs. Apple has been silent on the company’s stance on these alternative currencies, until now.
Part of the revised policy states that “apps cannot use their mechanisms to unlock content or functionality, such as license keys, augmented reality markers, QR codes, cryptocurrencies and cryptocurrency wallets, etc.” This applies to Apple’s guidelines for alternative payment systems within apps. Apple allows alternative payment systems only in selected countries. Therefore, it needs to be more specific with this policy in general.
Apple may allow cryptocurrency exchange
The guidelines also add that apps can use in-app purchases to market and sell services related to NFTs. These include mining, listing and transferring cryptocurrency and NFTs. Developers can allow users to view their NFTs in the apps. They just need to ensure that ownership of the NFTs does not unlock features or functionality in the app.
Apps can use in-app purchases to sell and sell services related to non-fungible tokens (NFTs), such as minting, listing and transfer. Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app. Apps may allow users to browse NFT collections owned by others, provided that the Apps do not include buttons, external links, or other calls to action that direct customers to purchase mechanisms other than in-app purchases.
Apple also stated that they can facilitate cryptocurrency exchanges, provided they have approved the specific exchange. Cryptocurrency exchanges are companies that allow users to buy and sell cryptocurrencies using fiat money. In addition, apps promoting these exchanges should ensure that they are offered in countries or regions where the app has the appropriate licensing and permissions to offer a cryptocurrency exchange.
Major cryptocurrency exchanges such as Binance and Coinbase have been in the App Store for some time already. However, it is only now that Apple has provided a clearer guideline for how developers can deploy them in their apps.
