Apple Blocks Coinbase Wallet App Over Gas Fees

December 2, 2022

MCP News Free

Apple Blocks Coinbase Wallet App Over Gas Fees

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If you’re using the Coinbase Wallet app on iOS, you can no longer send NFTs using the wallet anymore due to Apple’s latest move, but why?

According to a release by Coinbase, Apple has disabled the Coinbase Wallet app because of Apple’s latest policies which are focused on the protection of Apple’s profit “at the expense of consumer investment in NFTs.”

Coinbase disclosed the information in a Twitter thread on Thursday, December 1, in the thread, Coinbase said that Apple has blocked the update of the Coinbase Wallet app in its Apple store because Apple is demanding a 30% of the gas fee through in-app purchases.

You might have noticed you can't send NFTs on Coinbase Wallet iOS anymore. This is because Apple blocked our last app release until we disabled the feature. ????
— Coinbase Wallet ????️ (@CoinbaseWallet) December 1, 2022

Coinbase said Apple wanted the San Francisco-based company to disable NFT transactions on its Coinbase Wallet and introduce new policies to protect Apple’s profits which the users of the wallet will suffer for it.

“For anyone who understands how NFTs and blockchains work, this is clearly not possible,” said Coinbase Wallet. “Apple’s proprietary In-App Purchase system does not support crypto so we couldn’t comply even if we tried. This is akin to Apple trying to take a cut of fees for every email that gets sent over open Internet protocols.”

According to Coinbase, iOS users will find it “a lot harder to transfer that NFT to other wallets.”

In addition, Coinbase said that the block may have been an oversight, and implored Apple to reach out over any issues.

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Apple’s in-app Purchase Fee

Apple’s latest policies on in-app purchase fees have led to many crypto enthusiasts aggressively expressing their displease.

Epic Games CEO Tim Sweeney, who had once fought Apple’s rules in a lawsuit said Apple “must be stopped.”

Also, the Former YouTube executive and current Polygon Studios CEO Ryan Wyatt criticized Apple’s latest policies, according to Wyatt, Apple’s 30% tax is a crime. Wyatt believes the tax will “forever hold back technological progress due to its monopoly over the industry.”

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