Rule

Eden

Apple

Epic

As per the report, the United States Supreme Court <a href="https://twitter.com/FOSSpatents/status/1689331973003579392?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1689331973003579392%7Ctwgr%5E4152d973849b7fc9483057cbded91dac62300df1%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fapple-tax-rules-remain-for-now-epic-games-crypto-nfts" rel="noopener noreferrer nofollow">denied</a> a plea from Epic Games to immediately relax Apple’s App Store payment regulations, which could have helped crypto and NFT apps users. 
<h2 id="span-style-font-weight-400-apple-remains-stubborn-span">Apple Remains Stubborn</h2> 
In an Aug. 9 <a href="https://www.supremecourt.gov/search.aspx?filename=/docket/docketfiles/html/public/23a78.html" rel="noopener noreferrer nofollow">decision</a>, Supreme Court justice Elena Kagan rejected a federal appeals court’s judgment to take effect, as Epic had asked for. 
Notably, the Ninth Circuit Court of Appeals found in April that Apple broke California’s competition laws by prohibiting apps that guided users to non-Apple related payment systems.&nbsp; 
<h3 id="span-style-font-weight-400-epic-games-unable-to-direct-users-to-alternate-payment-methods-span">Epic Games Unable to Direct Users to Alternate Payment Methods</h3> 
This verdict came about as a hope for companies such as Epic Games to be able to redirect consumers to alternate payment methods, offering them a way to avoid Apple’s 30% fee. 
However, following the Supreme Court’s most recent judgment, there is no way for buying an NFT on an app featured on Apple’s App Store besides using the in-app payments system, which requires a commission of thirty percent and accepts fiat payments only. 
<h2 id="span-style-font-weight-400-no-change-in-policies-span">No Change in Policies</h2> 
In response to Justice Kagan’s denial of Epic’s request, the platform <a href="https://www.supremecourt.gov/DocketPDF/23/23A78/272910/20230725183412836_Application%20to%20Vacate%20Stay.pdf" rel="noopener noreferrer nofollow">stated</a> that the court employed a “lax legal standard” which would negatively impact Epic and “innumerable consumers and other app developers for an extended period of time.”&nbsp; 
In <a href="https://www.supremecourt.gov/DocketPDF/23/23A78/274712/20230804142719346_Epic%20Opposition%20to%20Motion%20to%20Lift%20Stay%20of%20Mandate.pdf" rel="noopener noreferrer nofollow">response</a>, Apple said that the ban has been in effect for two years and is not applicable to Epic in any case. 
<h3 id="span-style-font-weight-400-apple-and-nfts-span">Apple and NFTs</h3> 
Notably, the technology conglomerate finally accepted <a href="https://thecoinrise.com/apple-to-allow-nft-related-apps-on-its-app-store/" rel="noopener noreferrer nofollow">the inclusion of NFT games and applications</a> to its app Store last year. The newly added apps include NFTs, and developers of current apps can now sell NFTs through its store. However, many people were concerned about the company’s massive 30% commission on every purchase.&nbsp; 
The corporation’s 30% fee sounded inappropriate to developers of projects, apps, and games because standard markets like OpenSea and Magic Eden commonly charge fees of less than 5% generally. 
Because of the 30% corporate tax, former Apple employee and MetaMask co-founder Dan Finlay has stated that crypto-related apps should move off of Apple’s App Store. He considers the tax on purchases made through apps as <a href="https://thecoinrise.com/metamask-ceo-dan-finlay-is-ready-to-dump-apple-ecosystem/" rel="noopener noreferrer nofollow">“an abuse of monopoly”</a>. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/apple-confirms-that-30-tax-rule-on-crypto-and-nfts-will-stay/">Apple Confirms that 30% Tax Rule on Crypto and NFTs will Stay</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Apple Confirms that 30% Tax Rule on Crypto and NFTs will Stay

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