Apple Updates App Store Guidelines for Cryptocurrencies and NFTs
Clarification and Guidance for Developers
Apple has updated its App Store Review Guidelines to provide clearer guidance for developers offering cryptocurrency and non-fungible token (NFT) apps. These updates aim to enhance transparency and ensure compliance with the company's policies.
Cryptocurrency Exchanges
For crypto exchanges, Apple has outlined specific requirements that must be met. These include:
- Registration with relevant regulatory bodies
- Implementation of anti-money laundering and know-your-customer (KYC) measures
- Clear and transparent fee structures
NFTs
Regarding NFTs, Apple states that apps can facilitate the purchase, sale, and storage of NFTs. However, the following restrictions apply:
- Apps must not allow users to mint or create new NFTs directly on the device
- Apps must not provide access to third-party marketplaces where users can trade NFTs outside of the app
Implications for Developers
These updates provide valuable guidance for developers of cryptocurrency and NFT apps. By adhering to Apple's policies, they can increase the likelihood of their apps being approved and distributed through the App Store. Failure to comply may result in app rejections or removals.
Conclusion
Apple's clarification of its policies on cryptocurrencies and NFTs is a positive step towards fostering innovation and protecting consumers. By providing clear guidelines, the company ensures that apps meet regulatory standards and offer a safe and secure experience for users.
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