Coinbase wallet's new NFT trading feature rejected, Apple intends to tax Gas Fees

Coinbase had originally planned to enable NFT transfers in the next update, but strangely, Apple insisted that users must purchase Gas Fees through its in-app payment system, allowing Apple to charge a 30% tax, leading to ridicule from the crypto community.

Apple Blocks Coinbase Wallet Update

Coinbase tweeted that the iOS update of Coinbase Wallet has been blocked by Apple. Apple claims that the Gas Fee required for NFT transfers needs to be purchased through their proprietary in-app payment system, "In-App Purchase," so that Apple can levy a 30% tax on Gas Fees.

Coinbase stated:

For anyone familiar with NFTs and blockchain technology, it is clear that this is not feasible. Apple's in-app system does not support encryption technology, so even if we try to comply, it is futile. It's like Apple trying to charge for every email sent.

Coinbase criticized Apple's policy as sacrificing consumer investments in the NFT space and developers' innovations in the crypto field to protect their own interests.

Coinbase hopes that Apple's actions are just a temporary oversight rather than intentional.

Community Ridicule and Criticism

Although Apple's move is considered an accident, as MetaMask's app does not face such issues, it has still drawn ridicule from the crypto community.

Coinbase CEO Brian Armstrong stated that despite their regular monthly meetings with Apple, such absurd incidents still occur occasionally.

Kraken founder Jesse Powell mocked:

If Apple believes they deserve 30% of Gas Fees, then they should take a cut of my internet fees because I'm paying for the phone's bandwidth and data; they should also tax my household utilities because they power my phone; my grocery bill should be taxed too because the food fuels my fingers to swipe on the phone.