Monday, May 27, 2024
HomeNewsCoinbase Disables NFT Transfers on iOS App

Coinbase Disables NFT Transfers on iOS App

Because of a disagreement with Apple (AAPL) over the latter’s in-app purchase policy, Coinbase (COIN) has stopped non-fungible token (NFT) transfers on its iOS wallet application. According to Coinbase, Apple is requiring that it pay its gas taxes via Apple software, which would subject the taxes to Apple’s 30% app tax.

“For anyone who understands how NFTs and blockchains work, this is clearly not possible,” Coinbase said. “Apple’s proprietary In-App Purchase system does not support crypto, so we couldn’t comply even if we tried.”

The argument is the most recent development in a long saga between Apple and the NFT community. A restriction that has prevented markets like OpenSea from providing NFT trading within its mobile app is Apple’s formal refusal to waive its 30% App Store fee for NFT trading, which was announced in October.



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