Market Update: October 25, 2022

  /  2 minutes read

Nonfungible Tokens (NFTs) and cryptocurrency exchanges are now subject to more specific App Store guidelines from Apple. By requiring that all NFT transactions take place within apps, the tech industry appears to be doubling down on its NFT “Apple tax.” When purchasing NFTs, “buttons, external links, or other calls to action” won’t be allowed in apps. It also allows applications to use in-app purchases to “sell and sell services” related to NFTs, such as “minting, listing, and transferring”. The tech corporation is making sure that every NFT purchase is made in-app. However, this appears to be an additional effort to enforce its NFT “Apple tax,” which includes in-app NFT sales in its usual 30% commission rate on all purchases.

Source; Blockworks

Two Chinese intelligence agents, Guochun He and Zheng Wang, are accused in a case that was unveiled on Monday. To obtain inside information on a criminal case against Huawei, prosecutors claim they attempted to buy off a member of the American law enforcement community. According to those who are aware of the matter, it involves a Chinese-based telecoms firm. Mr. He and Mr. Wang are believed to reside in China and couldn’t be reached. The FBI director says China’s government is threatening U.S. economic security and fundamental human rights, including those of Americans. An inquiry for comment was not immediately answered by the Chinese Embassy in Washington. The past accusations of impropriety have been repeatedly denied by China and Huawei. “We bring cases when they are ready,” FBI Director Christopher Wray says.


Following Liz Truss’ controversial resignation last week, Rishi Sunak has been picked to lead the nation as the next prime minister. Sunak oversaw the U.K.’s new cryptocurrency ambitions while serving as the finance minister. On Monday, Truss’ replacement was chosen by Sunak’s fellow Conservative Party members. He played a key role in advancing the Financial Services and Markets Bill, which, if it becomes law, could grant local regulators extensive authority over the cryptocurrency sector.

Source: BBC

That’s it for today, see you tomorrow


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