Coinbase disables NFT transactions via cell phone

The Coinbase exchange has been forced to disable mobile NFT transfers due to Apple’s store policies.. Apple’s platform requires that each NFT transaction leave 30 percent of the transaction value as a fee.

Coinbase has finally decided to disable non-fungible token (NFT) transfers for users using devices with iOS operating system. This is the only viable solution the exchange has managed to find after a long dispute with Apple over the purchase policy applied to apps in its store.

Apple imposes a 30 percent fee on any transaction made by an app offered in its store.. In October of this year, Apple rejected officially refused to allow NFT trade to circumvent this tariff, forcing it to any NFT transfer should give its 30 percent revenue to the platform.. This led marketplaces like OpenSea to decide not to offer their services to iOS users, and now Coinbase has joined them.

Yesterday, Coinbase announced that it would disable transfers through Coinbase Wallet for NFT trading.. In a series of tweets, the exchange explains that Apple is seeking to charge its fees for using Apple software, which would increase each exchange by 30 percent over the value of the exchange if using an iOS device. This is something Coinbase cannot assume and cannot require of its customers, and the system that Apple uses within its platform does not work with cryptocurrencies, which would make it impossible to meet the requirement even if Coinbase accepted it.

Paul GrewelCoinbase’s chief legal officer, Paul Grewel, also expressed his opinion via Twitter.

“When someone imposes rules that cannot be followed, one must ask why.“

Coinbase and NFT marketplaces are not the only commissions at odds with the 30% commission imposed by Apple. Twitter is also opposed and criticizes Apple’s decision to include such an abusive fee. Elon Musk himself, who recently acquired all of Twitter, revealed that the administration of Apple even threatened to remove Twitter from its app store..

Continue reading the Mark Zuckerberg’s feelings about the metaverse and its future.could be interesting.