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US Lawmakers Raise Concerns Over Apple’s Impact on Blockchain and NFT Technologies

US Lawmakers Raise Concerns Over Apple’s Impact on Blockchain and NFT Technologies

US Representatives Question App Store Guidelines

US Representatives Gus Bilirakis and Jan Schakowsky have written to Apple CEO Tim Cook, voicing their concerns over the potential impact of the App Store's guidelines on emerging technologies, including blockchain and nonfungible tokens (NFTs). The representatives are interested in understanding whether these guidelines could unintentionally stifle the development and expansion of cutting-edge innovations.

An Analysis of Apple's Approach

The lawmakers suggest that Apple is exploiting and curtailing the operation of crypto apps in their handling of the App Store regulations. They argue that the tech giant mandates the launch of “lite” versions of these apps which generate revenue for Apple but simultaneously lower the apps' functional value. The letter cites the experience of Axie Infinity’s on the App Store as an exemplifying case.

Illuminating the Effects of Apple’s Policies

This formal statement reflects the lawmakers’ apprehensions that Apple's policies might negatively influence the US’ position in the arena of emerging technologies. Although Apple cites increased security as the reason for the restrictive nature of its "walled garden" approach, there's increased speculation that these methods could be used to quell competition within the App Store.

Understanding Guidelines for the Sake of Innovation

For Congress, comprehending the full scope of these App Store guidelines and their potential to hamper innovation is paramount. The creation of an equitable playing field within the industry to foster American creativity is the lawmakers' primary objective. To this end, the representatives had previously written a similar letter to Apple concerning the App Store policies on TikTok and other China-based apps.