Breaking News: Apple Enables Crypto Payments on App Store
Tech Giant Forced to Alter Payment Policies upon Court Decision, deeming Apple's Interference in Competition Unlawful
After being held accountable for anti-competitive practices, tech giant Apple has made a significant shift in its App Store guidelines. They now allow developers to guide users to external payment methods, potentially paving the way for digital assets like cryptocurrencies to be used as alternatives.
In a recent court ruling led by Judge Yvonne Gonzalez Rogers, Apple was found in violation of an injunction from its legal battle with video game developer Epic Games. The ruling, which dates back to 2021, mandated that Apple cease impeding developers' ability to communicate with users about payment channels outside the App Store.
Despite agreeing to the ruling, Apple failed to fully comply. As a result, the judge issued a statement expressing disapproval of the tech giant's continued attempts to interfere with competition and emphasizing the importance of full compliance with court orders.
"This is not a negotiation. Time is of the essence. The Court will not tolerate further delays. As previously ordered, Apple will not impede competition.... Apple will no longer impede developers' ability to communicate with users, nor will they levy or impose a new commission on off-app purchases."
With this new update, Twitter users have noted this change by sharing screenshots from Apple users on X, the social media platform X, hinting at the possibility of utilizing crypto as a payment method.
Economist Alex Kruger hinted at the possible impact of this update, stating, "This could be huge."
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Source:
- Apple's App Store Rules Change After Legal Battle with Epic Games
- Apple Loses Court Ruling Over App Store Payment Policies
- Spotify Enables External Payments Following Apple's App Store Rule Change
- Apple's Appeal of Epic Games Ruling Hits Legal Snag
- Apple Appeals Court Ruling, Asks for Delay in Implementing Changes to App Store
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Cryptocurrencies and altcoins have the potential to gain widespread use in the realm of digital payments, particularly in the business sector, following Apple's announcement of allowing developers to guide users towards external payment methods, potentially paving the way for cryptocurrencies to be used within the App Store. The blockchain technology underlying cryptocurrencies, when integrated with traditional finance, may bring about significant transformations in the business landscape.
The recent court ruling, mandating Apple to cease impeding developers' ability to communicate with users about alternative payment channels, further emphasizes the trend towards decentralization and increased competition, which could have far-reaching implications for various industries, including finance and business.
