Currency encryption apps face many limitations from Apple

Coinbase CEO Brian Armstrong claims that Apple is blocking innovation in cryptographic applications and marginalizing DeFi in order to protect itself from competition. In a series of tweets released on September 11, Armstrong reiterated his previous claim that Apple had blocked some features for cryptocurrency developers. The CEO of Coinbase claimed that other cryptocurrency companies "are reluctant to talk about it for fear of retaliation"; But he added that he felt it was necessary to talk about it, as Coinbase's talks with Apple had stalled. According to Armstrong, Apple has told Coinbase that adding two special operations to iOS apps is prohibited: the ability to monetize through cryptocurrencies and access to decentralized finance apps (DeFi). According to Coinbase, the first limitation that affects the exchange Coinbase Earn product is that Coinbase has been forced to change its program in a way that is increasingly unhelpful. Armstrong claimed that these restrictions are for cryptographic users and added:

Why does Apple want to block people's income during the recession? The company seems to have a problem with people using cryptocurrencies as a unit to buy.

Regarding iOS users, he said that the features of cryptographic applications are problematic due to censorship by Apple, and it should be noted that these cases are not due to the passivity of developers. In addition, Apple has reportedly banned Coinbase from providing its users with a list of DeFi apps. Apple's justification for these events seems to have been that "Coinbase offers encryption exchanges in non-embedded software that is not suitable for the App Store."

The CEO of Coinbase, referring to access to DApps and DeFi applications, regardless of whether it is possible through any web browser on any smartphone, claimed that Apple's decision was a "conflict of interest". He also wrote:

While these restrictions are ostensibly designed to protect customers, in reality, they also seem to protect Apple from competition.

By forcing users to use the App Store instead of DApps or in-app purchases instead of cryptographic payments, Armstrong claimed that Apple's policy, in some cases anti-monopoly, parallels Microsoft's past actions, when it forced Windows users to use a proprietary browser. It was called Internet Explorer. During the Corona virus crisis, in which people without banking and financial access (unbanked or underbanked) may have more difficulty accessing traditional financial services, Armstrong accused Apple of continuing to block other previous financial barriers.