1. Home
  2. commission

commission

XRP Army Launches Petition Against SEC Appeal in Ripple Case

XRP Army Launches Petition Against SEC Appeal in Ripple CaseThe XRP Army is ramping up efforts to push back against the U.S. Securities and Exchange Commission (SEC)’s appeal in the Ripple lawsuit, calling it unnecessary and damaging to the cryptocurrency market. XRP supporters claim that the SEC’s actions create instability in the crypto sector, directly contradicting the agency’s mission. XRP Army’s Petition Calls for […]

Barclays-backed Copper withdraws UK crypto license application

Elon Musk Warns US Laws and Regulations Will Worsen Every Year Without Major Reform

Elon Musk Warns US Laws and Regulations Will Worsen Every Year Without Major ReformTesla and Spacex CEO Elon Musk has warned that without substantial government reform, laws and regulations will worsen annually, potentially stifling major initiatives. He has reiterated his call for significant U.S. government changes and agreed to help former President Donald Trump lead a new government efficiency commission, an idea he proposed. Musk believes reducing wasteful […]

Barclays-backed Copper withdraws UK crypto license application

Elon Musk Agrees to Head Donald Trump’s D.O.G.E. Government Efficiency Commission

Elon Musk Agrees to Head Donald Trump’s D.O.G.E. Government Efficiency CommissionFormer U.S. President Donald Trump has announced a plan to create a government efficiency commission led by Tesla CEO Elon Musk if re-elected president. This commission would conduct a financial and performance audit of the entire federal government. Musk is pushing the idea of the Department of Government Efficiency (D.O.G.E.), emphasizing concerns about government overspending. […]

Barclays-backed Copper withdraws UK crypto license application

Elon Musk Can’t Wait to Reform US Government Spending and Regulations

Elon Musk Can’t Wait to Reform US Government Spending and RegulationsTesla CEO Elon Musk has expressed his eagerness to tackle excessive waste and regulations in the U.S. government, responding to a report that former President Trump is considering him for a role in auditing federal agencies. Musk emphasized the need to reduce wasteful spending to curb inflation and proposed forming a “government efficiency commission” to […]

Barclays-backed Copper withdraws UK crypto license application

Elon Musk Offers to Assist Donald Trump Boost Government Efficiency

Elon Musk Offers to Assist Donald Trump Boost Government EfficiencyTesla and Spacex CEO Elon Musk has offered to assist former U.S. President Donald Trump in managing government spending if Trump is re-elected, proposing the creation of a government efficiency commission. Trump endorsed the idea, praising Musk as “the greatest cutter” and suggesting he would be a great leader for such a commission. Trump and […]

Barclays-backed Copper withdraws UK crypto license application

Apple to allow third-party app stores in windfall for NFTs and crypto

In a win for crypto app developers, incoming EU laws will force Apple to permit alternative app stores and apps without the need to go through its App Store.

Tech giant Apple is gearing up to permit third-party app stores on its devices to comply with new anti-monopolistic requirements from the European Union (EU), which could be seen as a huge win for crypto and NFT app developers, at least in Europe.

Under the new rules, European customers would be able to download alternative app marketplaces outside of Apple’s proprietary App Store, thus allowing them to download apps that skirt Apple’s 30% commissions and app restrictions according to a Dec. 13 Bloomberg report citing those familiar with the matter.

Currently, Apple has stringent rules for NFT apps that practically force users to go through in-app purchases subject to Apple’s 30% commission, while apps are not permitted to support cryptocurrency payments.

Apple’s enforcement of its rule led to a block of Coinbase’s self-custody wallet app update on Dec. 1 as Apple wanted to “collect 30% of the gas fee” through in-app purchases, something that is “clearly not possible” according to Coinbase.

It then claimed Apple wanted the wallet to disable NFT transactions if they couldn’t be done through its in-app purchase system.

Alex Salnikov, co-founder of NFT marketplace Rarible tweeted on Dec. 13 in response to the news that a “crypto app store” could be built and would be a “great candidate” for a venture capital-backed startup.

Apple’s move to open its ecosystem is in response to the EU’s Digital Markets Act aiming to regulate so-called “gatekeepers” and ensure platforms behave fairly with part of the measures allowing “third parties to inter-operate with the gatekeeper’s own services.”

It will be applicable starting May 2023 with businesses needing to fully comply by 2024.

Apple hasn’t decided if it will comply with a part of the Act allowing developers to install alternative payment systems within apps that don’t involve Apple. if it does comply, it could open up payment systems that allow cryptocurrencies.

Related: LBRY alleges Apple forced it to censor certain terms amid COVID-19 pandemic

Under consideration by the tech giant is mandating security requirements for software outside of its store, such as verification from Apple, in a bid to protect users against unsafe apps.

The changes to Apple’s closed ecosystem would apply only within the EU, other regions would need to pass similar laws such as the proposed Open App Markets Act in the United States Congress from Senators Marsha Blackburn and Richard Blumenthal.

Barclays-backed Copper withdraws UK crypto license application

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans

Brussels Wants All Crypto Service Providers to Report Transactions of EuropeansThe European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are based, will have to abide by the new rules. EU to Consider New Reporting Requirements for Crypto Platforms […]

Barclays-backed Copper withdraws UK crypto license application

New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations

New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation RegulationsA special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation. Advisory Board to Take On Matters Related to Cryptocurrency Taxation in Ukraine The National Securities […]

Barclays-backed Copper withdraws UK crypto license application

Australia Suspends Financial Services License of Local FTX Entity

Australia Suspends Financial Services License of Local FTX EntityAustralia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives. FTX Australia Sees License Suspended After Accepting Voluntary Administration The Australian Securities […]

Barclays-backed Copper withdraws UK crypto license application

Brussels Set to Begin Talks on EU Crypto Tax, Report Reveals

Brussels Set to Begin Talks on EU Crypto Tax, Report RevealsThe European Commission is preparing to discuss with member states the adoption of a common tax regime for crypto assets, European officials have indicated. The talks with national treasuries are expected to start next year with the aim to end the differentiated tax treatment of cryptocurrencies across the bloc’s 27 jurisdictions. European Union to Consider […]

Barclays-backed Copper withdraws UK crypto license application