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New Apple rules double down on 30% NFT ‘tax’ and geo-limits exchanges New Apple rules double down on 30% NFT ‘tax’ and geo-limits exchanges
Business / Crypto

New Apple rules double down on 30% NFT ‘tax’ and geo-limits exchanges

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Technology heavyweight Apple has clarified its App Store rules around nonfungible tokens (NFTs) and cryptocurrency exchanges marking the first time its codified specific rules for NFTs. The new rules confirm how NFT purchases will be taxed and what they can and can’t be used for, while also clarifying rules around when a crypto exchange app can be listed.  The Oct. 24 update to its App Store guidelines saw language added that allows fo in-app purchases of NFTs, but bars any NFTs acquired elsewhere to be used for anything other than viewing.  It also allows applications to use in-app purchases to “sell and sell services” related to NFTs such as “minting, listing, and transferring.” However, the tech company is seemingly double-downing on its NFT “Apple tax” — which lumps in-...

Politics

What to Expect from the 2020 Bitcoin Halving

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The Bitcoin halving is a planned reduction in rewards miners receive. Halvings happen once every four years or so. And the next one will take place in the early hours of Tuesday, 12 May 2020. What exactly is a halving and why does it happen? Bitcoin is generated by miners. They have computers performing complex calculations which validate the transactions on a public digital ledger, called the blockchain. The miners compete with each other to earn newly-issued tokens known as a block reward. A halving is a 50% reduction in the value of rewards to Bitcoin miners. There is a finite number of Bitcoin that will ever be in circulation (21 million) and there is no way of producing more. Halvings are a unique protocol which controls the supply of Bitcoin. /* custom css */ .tdi_3_98b.td-a-rec-img{...