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Apple Blocks Coinbase Wallet Release on iOS

  • Apple blocks its iOS Wallet from enabling NFT transferring.

  • Apple asked Coinbase wallet to pay a cut of 30% of the gas fees.

  • The move also raised concerns among iOS users who hold their NFTs in Apple Wallet.

02 Dec 2022 By: Ashish Sarswat
Apple Blocks Coinbas

In a major development, Coinbase has alleged that Apple has blocked 

The latest release of its wallet, preventing users from transferring NFTs.

This announcement is the latest in a string of complaints regarding Apple Store policies. Coin Wallet claims the big tech giant purposefully disabled the feature in their most recent update. The app will remain inaccessible on iOS devices until the project disables NFTs transactions.

Reports cited that Apple made the move because the gas fees required to send NFTs must be paid through their In-App Purchase system, which allows them to keep 30% of the gas fee.

Does Apple want 30% of the gas fee?

As Coinbase Wallet revealed in the announcement, the American multinational technology company has asked Coinbase Wallet to enable NFT transfers through its specialized in-app purchase mechanism, so 30% of the gas fees for transfers will be allocated to Apple.

Coinbase Wallet stated that even if they tried, they would not be able to comply with Apple's request because the Apple in-app purchasing system does not support cryptocurrencies. 

Experts also point out that the 30 percent fee has been a topic of contention between the world's most valuable company and other app developers such as Spotify and Fortnite creator Epic Games, who have accused the company of abusing its monopoly.

Apple’s Move Sparked Concern Among iOS Users

Apple has long maintained a high degree of control over how its products are used, citing performance concerns. Unlike Google's Android smartphone operating system, iOS is proprietary. Apple's App Store is also well-known for curating the apps available on its platform.

While Apple's Oct. 24 update to its App Store standards specifically authorized apps that supported NFT purchases, it remained unclear how the company would interpret its own standards. The decision to block Coinbase Wallet indicates that Apple's standards may not be interpreted in a way that is compatible with basic blockchain technology.

The action will undoubtedly affect a large number of iOS users as well who store their NFTs in their Apple wallets. It is uncertain whether the decision will be reconsidered, or will further affect the entire ecosystem.

What do you think, will apple revoke its decision or implement harsher policies? Share your views in the comment section below.

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