Summary : But now, politicians and law enforcement are turning their attention to Apple and Google — companies that operate huge app stores — and how they review fraudulent crypto apps.
It is “imperative that app stores have the proper safeguards in place to prevent against fraudulent mobile application activity”
“Crypto mobile apps are available to the public through app stores, including Apple’s App Store,” the senator wrote to Cook on Thursday. “While cryptocurrency apps have offered investors easy and convenient ways to trade cryptocurrency, reports have emerged of fake crypto apps that have scammed hundreds of investors.”
“While firms that offer crypto investment and other related services should take the necessary steps to prevent fraudulent activity, including warning investors about the uptick in scams, it is likewise imperative that app stores have the proper safeguards in place to prevent against fraudulent mobile application activity,” the senator wrote.