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US lawmakers question Apple's App Store policy on crypto-related apps

Two US lawmakers, Republican Congressman Gus Bilirakis and Democratic Congresswoman Jan Schakowsky, have written a letter to Apple CEO Tim Cook, seeking information about App Store's restrictive crypto policy. The lawmakers are concerned that the guidelines are potentially being used by the tech giant to restrict emerging technologies like blockchains and NFTs, which could damage the United States' superiority in emerging technologies. They have given Apple until August 14 to respond to their inquiry and have raised concerns about the company's attempt to use App Store policies to increase its revenue at the expense of crypto-related applications. The bipartisan initiative has been praised by Coinbase's Chief Legal Officer Paul Grewal and the Chief Executive of the crypto advocacy group Blockchain Association, Kristin Smith.

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