U.S. Lawmakers Question Apple About App Store’s Restrictive Crypto Policies

U.S. Lawmakers Question Apple About App Store’s Restrictive Crypto Policies

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The surge of digital currencies and non-fungible tokens (NFTs) has caught the attention of the U.S. government, with two lawmakers recently writing to Apple CEO Tim Cook concerning the company’s App Store policies related to cryptocurrencies and other emerging technologies.

Representative Gus Bilirakis and Jan Schakowsky, chairman and ranking member of the Innovation, Data, and Commerce Subcommittee, respectively, recently penned a letter to Tim Cook expressing their concern about the App Store’s restrictive policy on NFTs and blockchains. The lawmakers were interested in finding out how Apple’s policy may be affecting American technological leadership and creating a barrier to innovative applications.

The letter inquired about Apple’s developmental plans surrounding blockchain and asked numerous other questions related to their App Store policies. Bilriakis and Schakowsky also noted that Apple could be using their App Store guidelines to increase their own revenue by stifling crypto-related applications. The pair requested a response from Cook by August 14th.

Paul Grewal, Chief Legal Officer at crypto giant Coinbase, praised the bipartisan initiative by Bilirkas and Schakowsky, while Kristin Smith, CEO of the Blockchain Association, commended the lawmakers for their inquiry into App Store’s restrictive policies.

In the era of digital currencies and NFTs, it is important for the U.S. government to understand the impact of Apple’s App Store policies on the development of blockchain technologies. It is essential that Congress know how Apple’s policies are enabling or hindering the country’s technological advancement, which is why the inquiry by Bilirkas and Schakowsky is so important.

By understanding the App Store’s impact, the U.S. could potentially reap the benefits of emerging technologies like blockchain and NFTs and strengthen its standing in the technological space. It will be interesting to see if Apple’s response to the inquiry will change their App Store policy and allow more applications related to digital currencies and other innovative technologies

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