Exchange News- Coinbase stated that users can’t send NFTs from their Apple iOS.
- As per Coinbase, Apple wants 30% of all NFT gas fees paid through their In-App Purchase service.
Coinbase Global Inc announced on Thursday that users of Apple Inc iOS are no longer able to transmit non-fungible tokens (NFTs) to their cryptocurrency exchange wallets. Furthermore, coinbase states in a tweet that Apple has block the latest recent app release until the feature is disable.
You might have noticed you can’t send NFTs on Coinbase Wallet iOS anymore. This is because Apple blocked our last app release until we disabled the feature. 🧵
— Coinbase Wallet (@CoinbaseWallet) December 1, 2022
According to Coinbase, Apple argues that the fees required to transfer NFTs has paid through their In-App purchase system in order for them all to collect 30% of the gas fees.
Apple Blocks Coinbase Wallets Release
Coinbase wallet also mentioned that for anyone who understands how NFTs and blockchain to function. It is evident that it is not feasible that Apple’s exclusive In-App purchase system does not support crypto. So they couldn’t adhere even if they tried.
And this is comparable to Apple seeking to charge fees for each email sent via open Internet protocols. And the major impact of this policy change is those iPhone users who already own NFTs in the iPhone wallet. It will find it more difficult to transmit them to other wallets or present them to friends or family.
Apple has just implemented a new policy to secure corporate revenues at the expense of user investment in NFTs and developer advancements all through the crypto ecosystem.
Coinbase also noted that they hope this is an oversight on Apple’s part and a watershed moment for future discussions with the ecosystem. The action will probably affect a lot of iOS users who keep their NFTs in their iPhone wallets.
Source: https://thenewscrypto.com/coinbase-claims-apple-suspended-the-crypto-wallet-app/