Apple clarifies App Store rules on NFTs and crypto exchanges
Join Our Telegram channel to stay up to date on breaking news coverage Apple has clarified the App Store rules surrounding non-fungible tokens (NFTs) and cryptocurrency exchanges . The rules touch on the taxes deducted in NFT purchases and how these digital collectibles can be used. Apple clarifies rules in NFTs and crypto exchanges This marks the first time that Apple is introducing rules that specifically focus on NFTs. Under the rules, Apple addresses how NFT purchases will be taxed and the scope under which these collectibles can and cannot be used. Apple has also provided guidelines on when a cryptocurrency exchange app can be listed on App Store. The new guidelines allow in-app NFT purchases but prevent the use of NFTs bought outside the platform. Apple is also allowing applications to use in -app purchases to offer services such as NFT minting, listing, and transferring. However, the company is also doubling down on the NFT “Apple tax” that will subject ...