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Brian Armstrong, CEO of digital currency exchange Coinbase, on Friday made an argument that Apple’s App Store regulations stifle innovation in the cryptocurrency space. Detailed in a Twitter thread, Armstrong’s assessment of current App Store policy targets Apple’s numerous and specific restrictions on digital currency handling. As it pertains to Coinbase , which markets an iOS app, the rules disallow the company from earning money using cryptocurrency and accessing decentralized finance apps. The latter limitation is of particular interest to the wider cryptocurrency segment, according to Armstrong. “DeFi and Dapps are a major area of innovation in financial services that has seen rapid growth lately. They let people get access to a global credit market to get a loan or earn interest, for instance,” Armstrong said in a tweet. “Dapps or DeFi apps are fundamentally just websites that you can access through any browser. So Apple is essentially saying you can’t provide users with a list of websites they can visit through an app.” He goes on to note the potential impact Dapps and DeFi apps have on emerging markets and, more pointedly, underserved communities. The technology can, for example, provide an alternative source of funding and loans in […]
