franco
@francos.eth
I believe you are wrong. Care for a bet?
3 replies
0 recast
4 reactions
Dan Romero
@dwr.eth
3.1.5.iii They don't have licenses. There are relevant state and federal laws / regulations that apply here, too. https://developer.apple.com/app-store/review/guidelines/
1 reply
0 recast
2 reactions
franco
@francos.eth
You definitely know more about this than I do but I've been digging in and these are my conclusions: 1. The key consideration here is whether Primal’s method of allowing users to purchase “sats” (fractions of Bitcoin) aligns with this guidelines. 2. If Primal facilitates cryptocurrency transactions through an approved exchange and operates within regions where it holds the necessary licenses and permissions, it would be in compliance with Apple’s policy. 3. Given that Primal is currently available on the App Store and offers in-app purchases for “Prepaid Nostr Zaps”, it suggests that the app has undergone Apple’s review process.
2 replies
0 recast
0 reaction
franco
@francos.eth
Someone on Nostr pointed out the following: "Someone else pointed out the following: I believe primal pays the 3 to 5% from each purchase of bitcoin that is made through primal.. Not each zap. Only when you buy bitcoin through the app" If Primal is paying Apple a percentage (3-5%) for each Bitcoin purchase made through the app, it aligns with App Store Guideline 3.1.1, which requires in-app purchases for digital goods or services. This means that Apple is getting its required cut of the transaction, which is one of the main reasons apps are sometimes flagged or removed. My take: As long as Primal has ensured its Bitcoin purchase mechanism complies with Apple’s payment rules and local crypto regulations, and Zaps are positioned as optional decentralized tipping features, it should be in the clear.
1 reply
0 recast
0 reaction
Dan Romero
@dwr.eth
3.1.5 is indpt of 3.1.1 You need a license to do virtual currency exchange in the United States. I ran Coinbase's consumer business, so am quite familiar with all of this. :)
1 reply
0 recast
1 reaction
franco
@francos.eth
I know I know 😅 So the real question for Primal’s long-term App Store presence lies in how they handle the backend of Bitcoin transactions: • If they are using a licensed exchange partner, they are likely in compliance. • If they are facilitating transactions themselves, they could be in violation of both U.S. regulations and App Store Guideline 3.1.5(iii), regardless of their adherence to 3.1.1. Would that be fair? PS. I love farcaster and part of the purpose of me digging into Nostr is looking for cool stuff that could also work here. Purchasing and tipping zaps is such a good experience over there that I would like to have here🫡
1 reply
0 recast
2 reactions