Many are tired of the draconian way Apple handles those in the crypto community
•MetaMask co-founder Dan Finlay says he’s in favor of the crypto industry ditching Apple’s App Store altogether, calling Apple’s 30% in-app purchase tax “an abuse of monopoly.”
• Coinbase Wallet announced Thursday that its users would no longer be able to trade or transfer NFTs through its iOS app due to Apple not being integrated with blockchains like Ethereum.
• Finlay is far from the first crypto advocate to express disdain toward Apple’s policy and believes that as a community, they should come together to find a workable solution.
• While companies like Amazon are allowed to sell physical goods in their applications without being subject to tax, crypto companies like OpenSea or Coinbase are not allowed to sell digital goods without being subject to tax — a move that makes mobile purchases much less appealing to users.
One of the most talked-about topics in the crypto industry lately has been Apple’s App Store and its 30% in-app purchase tax. Dan Finlay, MetaMask co-founder and blockchain software engineer, recently chimed in on the issue, calling out the tech giant for what he believes is an abuse of monopoly. His comments come after Coinbase Wallet announced that its users would no longer be able to trade or transfer NFTs through its iOS app due to Apple not being integrated with blockchains like Ethereum.
Finlay isn’t alone in his opinion either as many other crypto advocates have expressed their disdain towards Apple’s policy. They believe that as a community they should come together to find an effective solution to this problem. But what exactly is causing so much frustration? It comes down to the fact that while companies like Amazon are allowed to sell physical goods in their applications without being subject to the tax, crypto companies like OpenSea or Coinbase are not allowed to sell digital goods without being subject to it — a move that makes mobile purchases much less appealing for users.
In addition, it’s worth noting that this issue isn’t limited to just cryptocurrency-related apps; many other types of apps including streaming services such as Netflix and Hulu are also subject to the same tax since they offer in-app subscriptions within the App Store. This has led some developers, especially those within the crypto industry, to feel that Apple is unfairly targeting them due to their lack of control over digital currencies and decentralized networks such as Ethereum.
What many critics of Apple haven’t discussed is how these policies actually impact smaller developers who may not have access to alternative payment solutions or don’t have enough resources and capital to launch their own web-based storefronts or marketplaces outside of Apple’s walled garden. With Apple’s 30% commission taken from all purchases made through their platforms, it can make it difficult for small developers and entrepreneurs with limited budgets from scaling up quickly or getting started at all due to pricing constraints and higher costs associated with maintaining an online presence through Apple’s storefronts.
Apple has yet to respond publicly about Finlay’s stance but given the growing chorus of voices raising concerns about their policies and practices, one thing is clear — this conversation won’t be going away anytime soon. As more developers start speaking out against what they see as an unfair advantage held by large corporations like Apple on digital commerce, we can only hope that a compromise will eventually be reached which could potentially benefit both sides involved; allowing developers a way into mobile payments without having restricted access due costly fees while still providing consumers with safe and secure options when using digital platforms on mobile devices.