Apple's Rules Impact Damus and Potentially Other Crypto Apps | June 13, 2023

Apple's App Store has issued a warning to the decentralized social networking app, Damus, requiring compliance with its in-app purchase mechanism within two weeks, or face removal. The 'zaps' feature in Damus, which lets users tip content creators using Bitcoin through the Lightning Network, is considered non-compliant. The implications of this clampdown could potentially extend to any app interacting with the Lightning Network on the App Store.

While Damus views this move as suspiciously timed given their upcoming discussion on Bitcoin and decentralized social media at the Oslo Freedom Forum, it's worth noting that this instance is part of Apple's broader strategy to maintain strict control over emerging technologies. This policy was visible in the company's decision to charge a 30% commission on in-app #NFT sales and insist on in-house in-app purchase mechanisms for apps like OpenAI's ChatGPT chatbot. Despite some legal scrutiny, it appears that Apple's policies have been upheld as legally sound thus far, suggesting that other apps might have to comply or face similar restrictions. #AAPL #BTC #Crypto #MarketUpdate