Apple (AAPL) on Monday introduced new rules for payments in the Web3 world. The tech giant implemented changes that would centralize payments and purchases in a move to protect users’ data.
“Apps may not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase,” the new guidelines said.
While the new rules are not an explicit ban on cryptocurrency deals or NFTs, they would funnel transactions through Apple‘s payment systems. The Cupertino, California-based firm reportedly takes up to a 30% cut of its in-app payments. As a result, the move could limit transactions in the web3 world.
The company has been previously criticized for its pricing structure via its App store. Last year, Epic Games, the developer behind Fortnite, won a high-profile legal battle against Apple in a case over its 30% fee policies.
The cryptocurrency market has been rocked in recent months, losing nearly $2 trillion in value since peaking last November.
Shares of Apple Tuesday were at $151.97, up $2.52, or 1.69%, as of 3 pm ET.