Coinbase co-founder and CEO Brian Armstrong recently shared his thoughts on Apple's App Store restrictions that don't allow iOS users to transact money using cryptocurrencies in a Twitter thread.
The CEO also said Apple specifically told Coinbase that it was not "appropriate" for the App Store to allow iOS customers to use decentralized finance apps (Dapps) as such apps make cryptocurrency transactions possible and buy Bitcoins.
Apple's responsibilities in the crypto sector
The CEO said Coinbase recently came out with plans to improve its app's user experience in the wake of Apple's latest move that allowed developers to suggest changes and updates for App Store policies.
Armstrong later learned of Apple's restriction on crypto apps which he said would "stifle innovation in cryptocurrency." He tweeted: “I think Apple customers should be aware: the crypto apps you use on iOS are missing some features you want not because the teams didn't get them, but because those features have been censored by Apple.
I really admire Apple as a company and think they build fantastic products, but their restrictions on the app store, especially cryptocurrencies, are not defensible in my view and are holding back progress in the industry. " The CEO also said Apple was "forcing users to use the App Store instead of Dapps (websites)" and that this would lead to antitrust issues.
The long conflict between Coinbase and Apple
Armstrong said his Coinbase team tried to discuss such restrictions directly with Apple's leadership who did not respond. The tweet didn't mention any of Apple's top executives, but the Coinbase CEO was keen to add that previous talks with these executives have resulted in the apps being tweaked in a way that has generated "worse experiences" for both iOS and iOS users. for those of Coinbase.
As of press time, Apple has not made any statements in response to Armstrong's claims. Some Twitter users have retorted that Apple applies these restrictions to prevent users from falling into "crypto scams" and Ponzi schemes.
But Armstrong is adamant and reported his concerns that Apple's restrictions on crypto apps "prevented people from earning money during the recession," arguing that DeFi would ultimately help people struggling to survive economically during the current crisis without necessarily having to go to the banks.
Armstrong had also recently intervened in the discussion on the legal battle between Epic Games and Apple with the Fortnite game at the center. Already on that occasion, he had expressed himself underlining how "Apple has been very restrictive and hostile to cryptocurrency over the years."
