News & Blog

Apple takes new NFT and crypto measures, what does this mean for Coinmerce users?

Apple takes new NFT and crypto measures, what does this mean for Coinmerce users?

The world's largest company, Apple, is taking new measures that are going to make life a bit harder for cryptocurrency-related businesses. There will be some changes for Coinmerce too, so read carefully.

To start with the good news: Apple announced on 24-10-2022 that apps will be allowed to continue facilitating crypto asset trading. So our users will continue to be able to trade via the Coinmerce iPhone app.

On the other hand, apps from crypto exchanges may only continue to be offered in the App Store in countries/regions where the crypto company has obtained a license. What exactly does this mean for Coinmerce users?

First of all, in the coming period, the Coinmerce IOS app will only be updated in the Netherlands. So for users within the Netherlands, there is nothing to worry about. In other countries, for users who already have the IOS app installed, our services will still be available, but the app can no longer be updated. And for new users, the IOS app is no longer available outside the Netherlands.

Note: For Android users, nothing will change. Every Android user can still enjoy all our services.

Furthermore, Coinmerce is working hard on obtaining registrations and applying for licenses in other countries within Europe. We will keep you updated on this!

30% fee on every NFT purchase via applications in the App Store

Besides tightening the provision of apps on the App Store, Apple came up with another firm measure: Apple is taking a 30% fee on every NFT purchase made through apps on the App Store.

Trading NFTs will also be required to run through the App Store's in-app payment option, making it harder to bypass the 30% fee.

Exactly what this will all look like is not yet clear, but the days of the wild west for crypto apps on the App Store are over.

In any case, Coinmerce will make sure to respond to current developments as soon as possible, so that we can continue to provide you with our services now and in the future!