Apple Disables DeFi dApps & Central Banks Having A Fit
If you woke up this morning and can't access Coinbase Earn on your iPhone, this is the reason why. Apple has disabled an untold amount of rising DeFi dApps on their play store.
If you want to read more, I picked this news up from the following source:
https://www.ibtimes.com/apple-rejects-new-cryptocurrency-defi-features-says-coinbase-ceo-3045296
The CEO of Coinbase, Brian Armstrong, has questioned Apple in a very negative light. In fact, his public Tweet begs the question:
why Apple would prevent people from earning money through cryptocurrency during a recession?
https://twitter.com/brian_armstrong/status/1304489988881440768?s=19
Apple is taking a staunch position that DeFi dApps don't belong in their play store, per the play store rules and agreements.
It makes sense. You can't let people spend money without oversight. The usual reasoning? They might lose it and then not be able to buy Apple products. The real reason, they might make enough to create something better and not need Apple anymore.
Brian Armstrong suggests that many other companies are experiencing the same frustrations with Apple as Coinbase is. They aren't going public for fear of retribution or retaliation.
The Steve Jobs Movies
There were at least a couple takes on the man's life. Neither suggest he was a very nice or kind individual. His vision, however, was on the long game. My guess is that's what Apple is doing here.
Although they sure refuse to help the FBI when it comes to backdooring data off terrorist's phones, they don't want to run afoul of Uncle Sam.
The topic is a perfect segue into another of todays' headlines.
Central Euro Banks Clamoring For Regulation
Speaking of Uncle Sam, his European cousins who head up the Central Banks are uneasy. It seems the surpassing of 8 Billion by the DeFi Market Cap woke them up.
See how cozy Governments are with Central Banks? After a call for a crack down on crypto regulations, specifically concerning stable coins, Government officials pounced to do their bidding.
From the following article on PYMNTS.com:
In a joint statement Friday (Sept. 11), the finance ministers of Germany, France, Italy, Spain and the Netherlands said they asked the executive branch of the European Union (EU), the agency responsible for managing the day-to-day business of the EU’s 27 nations, to prohibit stablecoins until oversight challenges had been addressed, Reuters reported.
You know what this sounds like? Just ask Brain Armstrong of Coinbase. There's nothing like preventing people from earning money during a global recession!
It's interesting this should come about at the same time Governments are racing to create their own form of digital currency. They'll end up calling those inflationary digits by the name of Stable Coins!
Don't fall for it.
Thanks for tuning in and as always...
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