Crypto News
Apple Admits Struggle with Cryptocurrency: Former App Store Director Exposes History of Conflict
Getting an app listed in the Apple App Store is no easy task, but it’s been an especially onerous process for crypto companies and projects. That’s not by accident, according to Apple’s former App Store director Phillip Shoemaker, who originally crafted the App Store’s guidelines together with the late Steve Jobs. Shoemaker claims that the guidelines have been rewritten since his departure, which has given Apple the ability to function as a gatekeeper and maintain an arbitrarily harsh stance against crypto and NFTs. He believes the rewrite made the guidelines intentionally unclear, creating the issues crypto companies have faced in the App Store. Apple has cracked down on various crypto apps it believes are violating its guidelines over the years, with Coinbase’s app being banned for an entire year in 2013. In 2020, Coinbase CEO Brian Armstrong wrote that Apple has been “very restrictive and hostile to cryptocurrency over the years”, and in 2022, updated its App Store Review Guidelines to address NFTs. This means that buying NFTs through an App will incur Apple’s hefty 30% fee, and any NFTs viewable through an app that were not purchased in-app are not allowed to unlock any additional content or in-app features. Coinbase was blocked in December 2022, when Apple began enforcing its new NFT rules until it removed its NFT transfer feature. Shoemaker believes these new NFT rules were crafted with the same “harsh” tone as the rest of Apple’s payment rules. This article highlights the difficulties crypto companies have faced in the Apple App Store, with Apple’s former App Store director claiming that the guidelines have been rewritten in an intentionally unclear way, giving Apple the power to be a gatekeeper and maintain an arbitrarily harsh stance against crypto and NFTs. This is bad news for crypto companies as it not only limits their access to the App Store, but also makes them subject to Apple’s 30% in-app purchase fee. #Crypto #AppleAppStore #NFTs #CryptoCompanies
You can read more about this topic here: Decrypt: Ex-App Store Director: ‘Apple Had a Problem With Crypto From Day One’
The post Apple Admits Struggle with Cryptocurrency: Former App Store Director Exposes History of Conflict first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
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