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Gungun Bhatia
Dec 2, 2022
by Gungun Bhatia

Coinbase Bans Mobile NFT Transfers Citing Apple's App Store Rules

Coinbase NFT Transfers

Table of contents

  1. Coinbase Ban of NFT Transfers On Apple’s App Store
  2. Coinbase 30% In-App Charge Structure
Coinbase (COIN), a cryptocurrency exchange, has banned non-fungible token (NFT) transfers on its iOS wallet app. The halt occurs due to a disagreement with Apple (AAPL) over Apple's App Store purchase guidelines.

Coinbase Ban of NFT Transfers On Apple’s App Store

On Thursday, Coinbase claimed on Twitter that Apple requires it to pay its gas costs via Apple software, which would expose the payments to Apple's 30% application tax. It is impossible, according to Coinbase, for anyone to comprehend how NFTs and blockchains operate. Even with the best efforts, the exchange couldn't conform since Apple's exclusive In-App Purchase mechanism doesn't support cryptocurrency.

The argument is the most recent development in a protracted debate between Apple and the NFT community. Markets like OpenSea have been prevented from providing NFT trading within their mobile applications due to Apple's official refusal to waive its 30% App Store charge for NFT trading back in October.

Coinbase 30% In-App Charge Structure

In reaction to the judgment, Coinbase Chief Legal Officer Paul Grewal tweeted that when someone establishes standards that cannot be obeyed, you should question why.

Elon Musk, the newly appointed owner of Twitter, has criticized Coinbase's 30% in-app charge structure and said that Apple has attempted to ban Twitter from its application store. These events coincide with the conflict between Coinbase and Apple.

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Coinbase blockchains Apple Non-Fungible Token (NFT) coinbase apple wallet ios nfts apple blocks purchase dispute wallet app ipad cases iphone app store
Coinbase Bans Mobile NFT Transfers Citing Apple's App Store Rules
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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