Apple Wants 30% ETH Gas Fees, Coinbase Wallet Stops NFTs

Coinbase Wallet stated that it had to block NFT transfers on iOS because Apple required gas fees for NFT transfers to be paid through in-app purchases.

Apple is making negative headlines in the crypto industry once again for its demand for fees. Coinbase tweeted on December 1 that NFT transfers on Coinbase Wallet were blocked on iOS devices. The reason given was that “the gas fees required to send NFTs must be paid through their in-app purchase system.”

If Coinbase did that, it would be paying Apple’s infamous “Apple Tax” and paying the tech firm 30% of Ethereum gas fees. Coinbase stated that this was quite simple not possible, the in-app purchase system did not support crypto. The exchange could not comply even if it tried.

Coinbase is critical in its opinion about Apple’s policy. The exchange likened the policy to trying to take a cut in fees for emails sent over open Internet protocols. It noted,

“…if you hold an NFT in a wallet on an iPhone, Apple has just made it much more difficult to transfer that NFT to other wallets, or give it to friends or family. Simply put, Apple has introduced new policies to protect your profits their at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem.”

But the stock exchange hopes for a solution, and tells Apple that it wanted to help. This is unlikely to happen, given the latter’s stubborn attitude to these rules.

The infamous apple tax

The Apple tax has come under increasing criticism over the past 18 months. One of the most notable events related to Epic Games; the developer of the highly successful Fortnite. The latter lost the legal challenge, and it became clear that an “apple tax” would not go down easily.

In recent days, Elon Musk has joined the criticism of tax, although it was criticism of his own statements. Musk said that Apple deducted a “secret” tax of 30%, although this was never a secret. Musk has also engaged in a feud with the tech company over a potential removal of Twitter from the App Store. He said the problem was solved.

Policies Affecting NFTs and Crypto

Apple has been a thorn in the side of the NFT industry as it once required NFTs to be made through in-app purchases. As a result, startups have had to limit the functionality of their apps, which is a significant blow to their ambitions.

As a very popular smartphone manufacturer with equally popular operating systems, Apple’s actions significantly affect crypto access. The crypto community has been clamoring for a crypto smartphone, something Samsung has made progress on.


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