Apple Announces New Rules for Crypto and NFT Payments

On Monday, Apple updated its App Store guidelines in regard to cryptocurrency trading and non-fungible tokens.

The new rules do not concern crypto exchanges or any other apps that allow the trading of digital tokens and currencies provided, those exchanges have the requisite regional licenses to operate where the app is distributed.

However, apps that sell NFTs and "related services," will have to go through Apple’s in-app purchase systems. In this way, Apple tries to funnel payments through its own payment system, justifying it as the only sure way to secure users and their sensitive information. Previously, California-based company's position has spanned legal tussles with Fortnite maker Epic Games and confrontations with governments like South Korea’s.

Apple puts a lot of effort into ensuring apps do not have functionality that lets NFT holders “unlock features or functionality within the app,” which may have served as an oblique workaround to its payments rule. That may affect some NFT projects that use the token like a membership card, providing added perks not otherwise accessible.