Apple and Google are under investigation for tolerating cryptocurrency apps

by nativetechdoctor
1 minutes read

The US is forcing Apple and Google to explain the review of cryptocurrency applications on their app stores.

According to TheVerge, in a letter to Tim Cook and Sundar Pichai – the two CEOs of Apple and Google – the chairman of the US Senate Banking, Housing, and Urban Affairs Committee asked for an explanation about the review and approval of the projects. wallet apps and crypto exchanges on their app stores.

The agency’s investigation is based on a recent report from the US Federal Bureau of Investigation (FBI), statistics that in a year, up to 244 investors were scammed with $ 42.7 million from applications. Cryptocurrency claims to be a trusted platform.

In early July, several federal law enforcement agencies, including the FBI and the Department of Justice, began legal actions against fraudulent organizations that allegedly stole billions of dollars from consumers. . Even as Bitcoin and other cryptocurrencies drop in price, the popularity of scams continues to grow.

Apple and Google have until August 10 to respond to requests from the US Senate Banking, Housing, and Urban Affairs Committee.

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