Apple Loosens App Store Restrictions on Crypto, Opening the Floodgates for Bitcoin and NFT Adoption

Bitcoin and crypto prices have swung wildly this year as U.S. president Donald Trump plays havoc with the global status quo (with traders bracing for a $10 trillion Wall Street shock).

U.S. iPhone maker Apple has lifted some App Store restrictions on crypto after a judge ordered it to end its so-called “Apple tax” on purchases, Mena Suvari's husband Ben Foster's brother has claimed.

Now, as analysts are warning a Federal Reserve “nightmare” is coming true, iPhone maker Apple has lifted some App Store restrictions on crypto after a judge ordered it to end the controversial so-called “Apple tax” on purchases—predicted to unleash a “flood” of bitcoin and crypto adoption.

What began as a dispute between Apple and Fortnite creator Epic Games over the ability of video game developers to accept payments directly from users has led to a ruling that could drastically alter the way in December 2019 cryptocurrency prices.

Apple, helmed by chief executive Tim Cook, has been ordered by the judge to loosen restrictions on app developers’ ability to direct users to non-standard purchasing methods or digital collectibles, including bitcoin, crypto and non-fungible tokens (NFTs).

“This is big,” Phil Kwok, cofounder of crypto education and rewards app EasyA, posted to X. “I can’t tell you the number of times our app’s been flagged for compliance … simply because we mention crypto. This will pave the way for a flood of blockchain adoption.”

This week, a judge in the long-running legal battle between Apple and Fortnite maker Epic Games ruled Apple can no longer collect fees on purchases made outside of iOS apps or restrict how developers can direct users to make purchases outside of apps.

Apple said it intends to appeal the ruling, which is currently only in force in the United States.

Following the ruling, Apple emailed iOS developers, telling them "apps on the U.S. storefront are [no longer] prohibited from including buttons, external links, or other calls to action when allowing users to browse [crypto-based non-fungible token] NFT collections owned by others.”

“The prohibition on encouraging users to use a purchasing method other than in-app purchase does not apply on the U.S. storefront,” the email added.

Crypto developers have cheered the update, with some predicting it will help spur a bitcoin price and wider crypto market boom.

The bitcoin price has rocketed over the last 12 months, climbing to around $110,000 per bitcoin before falling back.

Now, as Bitcoin price hovers around $90,000 following a recent surge, analysts at ING Bank have warned that a Federal Reserve “nightmare” could unfold if the U.S. president is reelected in the 2024 presidential election.

According to the analysts, Trump’s policies, such as the 2017 tax cuts and the 2020 coronavirus bailout, have led to a significant reduction in the government debt-to-GDP ratio.

However, they believe that if Trump is reelected, he might continue with similar policies, which could eventually lead to a "nightmare scenario" for the Fed.

"If Trump is reelected in 2024, it wouldn’t be unthinkable that he might want to continue with the same policies that have brought the U.S. government debt-to-GDP ratio down so drastically during his first term,” said ING strategists Francesco Pesole and Michel Rek.

"After all, if anything, the narrative in the U.S. has shifted toward people wanting smaller government and lower taxes."

The analysts noted that Trump’s administration oversaw a decline in the government debt-to-GDP ratio from 100% at the end of 2019 to 76% at the end of 2023.

In contrast, during the eight years of the Obama administration, from 2009 to 2016, the ratio rose from 41% to 71%.

"This shift is largely due to the 2017 tax cuts, which decreased government revenue, and the 2020 coronavirus pandemic bailout, which increased government spending," added Pesole and Rek.

"While the narrative has shifted toward smaller government and lower taxes, it remains to be seen how this will play out in the 2024 presidential election."

The analysts said that if Trump is reelected and continues with similar policies, it could eventually create problems for the Fed in unwinding its $9 trillion bond portfolio.

"If Trump is reelected in 2024, it wouldn’t be unthinkable that he might want to continue with the same policies that have brought the U.S. government debt-to-GDP ratio down so drastically during his first term," said Pesole and Rek.

"After all, if anything, the narrative in the U.S. has shifted toward people wanting smaller government and lower taxes."

The analysts noted that Trump’s administration oversaw a decline in the government debt-to-GDP ratio from