Lawmakers probe Apple’s App Store policies on blockchain, NFTs

Share This Post

Their letter aimed to explore whether these guidelines might inadvertently hinder the progress and growth of cutting-edge innovations.

United States Representatives Gus Bilirakis and Jan Schakowsky penned a formal letter to Apple CEO Tim Cook about concerns related to the California-based company’s App Store, and the potential effect of its guidelines on emerging technologies like blockchain and nonfungible tokens (NFTs).

The letter requests information about whether the App Store’s guidelines might inadvertently hinder the progress and growth of cutting-edge innovations.

Screenshot of the letter from the lawmakers addressed to Apple’s CEO. Source: Bilirakis blog.

The lawmakers observed a pattern in Apple’s approach to its App Store guidelines, where the company seemingly capitalized on and simultaneously limited the functionality of crypto apps. They pointed out that Apple achieved this by mandating the release of “lite” versions, which both generated profits for Apple and diminished the overall utility of the applications. As evidence, they specifically mentioned the case of Axie Infinity’s App Store experience.

By dispatching the letter, the lawmakers expressed concerns regarding the potential negative consequences of Apple’s policies on the United States’ standing in emerging technologies. The chairman and ranking member of the Innovation, Data, and Commerce Subcommittee noted that while Apple has justified these limitations as a means to enhance security through a “walled garden” approach, there is widespread concern that the company might be wielding the App Store as a tool to suppress competition.

Related: Apple has its own GPT AI system but no stated plans for public release: Report

They emphasized the importance for Congress to gain a comprehensive understanding of the App Store guidelines and to assess to what extent these guidelines may impede innovation and have an impact on American technological leadership. They added:

“Our subcommittee remains committed to promoting full transparency and ensuring that Big Tech is held accountable for monopolistic behavior,” 

They stated that they intend to create a level playing field within the industry so that American ingenuity can continue to thrive. The lawmakers previously penned a similar letter to Apple regarding App Store policies relating to TikTok and other apps originating from China.

Magazine: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’

Read Entire Article
spot_img

Related Posts

Court Approves Crypto Lender Genesis’ $3 Billion Payout to Customers

Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation US Bankruptcy Judge Sean Lane approved

Why Did Bitcoin Just Jump 10%? Blockchain Firm Weighs In

The cryptocurrency market has been on a hot streak in the past few days, with several large-cap assets posting significant gains in the past week Most notably, the Bitcoin price bounced back from

Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again?

According to data from CoinMarketCap, Bitcoin rose by 29% on Friday to trade above $67,000 for the first time since April 24 This positive price performance by the maiden cryptocurrency has been

Mid-May NFT Sales Drop by 8.97%, Top 4 Chains See Reductions

Between May 10 and May 17, non-fungible token (NFT) sales totaled $15056 million, marking an 897% decline from the previous week’s figures NFT sales have consistently decreased on a weekly

DOJ Arrests Two In Connection With $73 Million Crypto Laundering Scheme

United States authorities have charged two foreign nationals for laundering $73 million in cryptocurrency investment scams, commonly known as “pig butchering” This development was

Analyzing the US Government’s Bitcoin holdings: What you need to know

The following is a guest post from Vincent Maliepaard, Marketing Director at IntoTheBlock According to the latest data from IntoTheBlock, the US government holds over 1% of the Bitcoin supply, valued
- Advertisement -spot_img