Apple is tightening its rules for crypto and NFT in its App Store

apple clarified its rules for cryptocurrencies and non-fungible tokens (NFTs) and sets out what apps are allowed to do with these technologies.

On crypto exchanges, Apple said in updated App Store rules on Monday that apps can facilitate “transactions or transfers of cryptocurrency on an approved exchange.” But the app can only be offered in countries or regions where it is licensed and permitted to operate a crypto exchange.

“Apps cannot use their own mechanisms to unlock content or functionality,” such as cryptocurrencies or cryptocurrency wallets.

Apple has clarified the rules for NFTs, which can be a digital representation of real-world value, such as artwork, and are typically purchased using cryptocurrency.

The policy states that apps can use in-app purchases to sell NFTs and sell services related to them, such as minting, listing and transferring these tokens. Apps may also allow users to browse NFT collections owned by others as long as the apps “do not include buttons, external links, or other calls to action that direct customers to purchase mechanisms other than in-app purchases.”

All of this means that any kind of trading service for NFTs must use Apple’s in-app payment mechanism. Apple takes up to a 30% cut of in-app payments. While this doesn’t ban NFTs by any means, it does put a big limitation on what kind of services can be offered that involve NFTs, given the 30% share Apple takes.

Users can view the NFTs they own in an app provided the token does not “unlock features or functionality within the app.” Users often buy NFTs as a way to access exclusive parts of a service or even as a sort of membership card for an app. But Apple says none of this will be allowed.

Apple’s 30% cut has long been criticized by app makers who accuse the tech giant of having a monopoly on in-app purchases. Apple claims that its control over the App Store allows it to ensure the security of apps and payments. It has also said that the App Store has created a successful app ecosystem that allows developers to make money.

The 30% cut was the subject of a high-profile lawsuit between Fortnite developer Epic Games and Apple.

Cryptocurrencies have had a volatile and rough year, with the entire market losing around $2 trillion since its peak in November.