Apple has created special rules fo NFT tokens and cryptocurrency exchanges.
In these new rules, there is an explanation of how the acquisition of NFT is taxed, when and for what it can be used, and for what not. Also, these innovations affect cryptocurrency exchanges and explain when crypto exchange applications will be added to the App Store.
On 10/24/2022, after an update, a definition was added to the App Store recommendations that allows you to purchase nft in the application. But the operation of NFTs that were purchased elsewhere is prohibited, only viewing is allowed.
Apps are allowed to use in-store purchases to sell and offer NFT-related services such as "issuing, listing and transferring".
However, Apple is increasing its tax on NFT to 30%. Apple makes sure every NFT purchase happens in the app.
Although the company has been criticized for applying such high commissions on oil sales, these rules are beginning to take effect.
Immediately afterwards, Magic Eden executives removed their app from the App Store. Other nft trading platforms have reduced the functionality of their applications. Nowadays, users have the opportunity to just view their personal nft.
Also, in the Apple Store, you can only make purchases by using fiat currency. The use of cryptocurrencies is prohibited.
There is no 30% "Apple tax" on apps that trade cryptocurrencies, promoted by exchanges like Binance and Coinbase.
But there is a clarification that these applications have the right to work only in the territory where they have the appropriate license that allows the exchange of cryptocurrencies.
Earlier, news appeared that Apple decided to add applications and games with NFT to the App Store.
