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NFT News

Congress Probes Apple’s Crypto and NFT App Store Rules

Representatives Bilirakis and Schakowsky express apprehensions about Apple's App Store guidelines hindering innovation and competition in emerging technologies.

Written By Mansi Sarvaiya
Published July 29, 2023 11:26 AM
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Congress Probes Apple's Crypto and NFT App Store Rules

US Representatives Gus Bilirakis of the Republican Party, representing Florida, and Jan Schakowsky of the Democratic Party, representing Illinois, have come together in a bipartisan effort to raise concerns directly to Apple CEO Tim Cook. 

In a formal letter composed on July 28, the legislators questioned the potential consequences of Apple’s guidelines on the advancement of innovative technologies like distributed ledger technology and NFTs. 

Today, I sent a bipartisan letter to @Apple regarding iOS App Store policies and their impact on emerging technologies like blockchains and NFTs. Congress must understand if Apple's policies are limiting innovation and American technological leadership.

Full letter below: pic.twitter.com/Sda7qtEaql

— Gus Bilirakis (@RepGusBilirakis) July 28, 2023

They highlighted a pattern in Apple’s approach, where the company appeared to both capitalize on and restrict the functionality of crypto apps. 

This was achieved by mandating the release of “lite” versions, resulting in generating profits for Apple while diminishing the overall utility of these applications. Notably, they referenced the case of Axie Infinity’s App Store experience as an example.

By sending this letter, the lawmakers voiced concerns about how Apple’s policies might have negative implications for the United States’ position in the realm of emerging technologies. 

The Chairman and Ranking Member of the Innovation, Data, and Commerce Subcommittee expressed their viewpoint, acknowledging that Apple has justified these limitations as a security measure through a “walled garden” approach. 

However, there is a widespread concern that the App Store might be used as a tool to suppress competition.

The Representatives emphasized the utmost importance for Congress to gain a comprehensive understanding of the App Store Guidelines and assess the extent to which they could impede innovation and hinder American technological leadership. 

They reiterated their commitment to promoting transparency and holding Big Tech accountable for potential monopolistic behavior.

Furthermore, the lawmakers asserted their intent to create a level playing field within the industry to foster continued American ingenuity and innovation. 

The concerns expressed by Representatives Bilirakis and Schakowsky signal the growing scrutiny of technology giants and their potential impact on innovation and competition in the rapidly evolving tech landscape.

As the discussion unfolds, it remains to be seen how Apple will respond to these concerns and how it may influence the future of emerging technologies in the United States.

Also Read: La Maison Steel Unveils NFT-Verified Diamond Apple Watch Cuff

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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