US Congressman Gus Bilirakis, heading the Subcommittee on Innovation, Data, and Commerce, has addressed a bipartisan letter to Apple, seeking clarity on the tech giant’s stance toward blockchain technology and non-fungible tokens (NFTs).
A letter to Apple
Comprising a series of questions, the letter seeks insights into Apple’s handling of applications connected with blockchain technology. US Congressman Gus Bilirakis emphasized that Apple’s policies may significantly impact the progress of web3.
Additionally, the letter highlights Apple’s collaboration with Axie Infinity and inquires about the absence of NFT integration within the popular game. For reference, Axie Infinity recently listed a “Lite” version of its trading card game, Axie Infinity: Origins, on the Apple store.
One key aspect that intrigued the lawmaker is whether Apple plans to develop its own blockchain platform in the foreseeable future. To address these crucial queries, Apple has been granted until August 14 to respond to the bipartisan inquiry.
US Crackdown on crypto
While it may be said that the US is looking to regulate cryptocurrencies, crypto exchanges like Binance and Coinbase have stated numerous struggles, including a lack of regulatory clarity and cooperation from US financial watchdogs.
At the moment, the intentions of the US lawmakers are unclear. Is the government trying to regulate cryptocurrencies for investor protection, or are they outright banning crypto companies from operating in the country to make space for other corporations like Blackrock?
What is Apple’s stance?
Apple’s relationship with cryptocurrencies has been an ambiguous one. The company restricts any crypto transfers on its store, applying a 30% tax on NFT purchases. While a US judge has ruled this practice unlawful, the company must give preference and protect its payment system, Apple Pay.
On the other hand, Apple has shown to be heavily interested in adopting Web3 technologies. The CEO Tim Cook had previously stated that crypto is “something that we’re looking at”. Additionally, the company hired blockchain experts to integrate its team more than two years ago.
As the deadline approaches, the tech community eagerly awaits Apple’s response to Bilirakis’ letter, which could potentially shape the company’s approach to cryptocurrencies and blockchain technology.