Coinbase CEO Brian Armstrong issued a statement stating that the App Store guidelines stifle cryptocurrency innovation in a tweet.
Armstrong, head of digital currency exchange, outlines how Apple has placed many restrictions on how digital currency is handled in the App Store policy.
The Coinbase app in iOS prevents the company from earning cryptocurrency revenue and accessing decentralized financial apps. In particular, Armstrong emphasizes that the border prevents them from referring users to websites they can visit via the app, such as DeFi and Dapps.
Most crypto apps are severely limited as they lack important features. Armstrong intends to file a ‘formal challenge’ to try to change the new review process the Cupertino – based company announced in June.