top of page
Search
  • Writer's pictureSarah Dixon

Relief For NFT Users On 30% Tax, As Apple Allows Users to Install External iOS Apps


The tech giant Apple has announced plans to allow third-party app stores space on iPhones and iPads for the European Union region users to comply with its incoming European Union competition laws.




Apple To Allows Users To Install Apps From External Store

In a December 14 Bloomberg report, Apple announced plans to allow iPhone and iPad users from the European Union region to install from outside the App Store.


According to sources familiar with the matter, the plan to enable the installation of apps from external sources outside of its own App Store is being made in response to the European Union’s Digital Markets Act, which requires all tech companies to comply with restrictions by 2024 fully.


Nonetheless, the functionality could be expanded to other territories depending on whether those countries adopt similar regulations. Apple plans to launch the new feature in its iOS 17 software update, slated to launch next fall based on the typical annual release schedule.


Apple’s New Changes To Allow Users Exempt 30% Tax

The new functionality will allow developers to seamlessly build apps around non-fungible tokens and broaden the ability to make crypto payments through iPhones and iPads. The shift will make spending digital assets through iPhone and iPad apps much easier.


The reported changes come amid growing pushback to Apple’s closed ecosystem following the recent move to impose a 30% gas fee on NFT transactions. In October, the giant tech firm updated its developer guidelines to include the new tax on NFT transactions.


In the past few weeks, the rules changes have caused havoc within dominant iOS apps. Last month, crypto exchange Coinbase announced disabling NFT transfers through its mobile Wallet app. At the time, Coinbase described Apple’s 30% demand as “not possible.”


But interestingly, allowing third-party app stores onto iOS devices would allow customers to side-load apps and bypass Apple’s rules, its payment system, and its 15% to 30% commission on payments.


Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Comments


bottom of page