Apple May Improve Cryptocurrency App Ecosystem

The iOS ecosystem has always been known for not being able to install apps from external sources on phones, and for all crypto exchange and NFT programs being restricted to developers. Apple is probably now thinking about changing the direction of its policy, as reported by Bloomberg.

Apple may allow installation of apps from third-party sources that are outside of the App Store. The changes will be made in response to the European Union's digital marketplace law, which requires technology companies to be fully restricted by 2024.

According to some reports, support for external applications from third-party sources with marketplaces will initially only start in Europe to comply with the new law. However, the functionality of the law may go beyond the EU. Everything will depend on whether other countries adopt similar rules.

Previously, Apple forced Coinbase to disable NFT token transfers in the Coinbase Wallet app. The reason for this they called the lack of payments in the form of a commission of 30%. Coinbase representatives reported that Apple simply does not understand how cryptocurrency works and compared this with a report for every e-mail sent while using the Internet.

However, Apple allows users to use apps using NFTs like OpenSea or Market Eden, but iOS mobile device owners can only view them, not interact with them.

According to some information, Apple wants to launch the feature of installing applications from other sources with the iOS 17 update. The latter is expected from next fall, if it follows the usual annual update schedules.

Bloomberg also reports that the company is not yet sure whether it will allow third-party applications to use its own payment structure. Apple can go the classic route and force everyone to follow their payment system, but if the tech giant allows alternatives, it will greatly improve the cryptocurrency ecosystem.

Such changes will be beneficial for cryptocurrencies, as Apple's heavy monopolistic behavior is highly contrary to the decentralization principles of Web3 technologies.

MetaMask co-founder Dan Finlay, formerly of Apple, tweeted out his support for Coinbase and said the tech giant was abusing its monopoly and doing absurd things by demanding the impossible from app creators. He also suggested that MetaMask could be the next iOS app to be affected by the tougher new App Store rules.