CNBC:

South Korea’s parliament has approved a bill that will make it the first country to impose curbs on Google and Apple’s payment policies that force developers to only use the tech giants’ proprietary billing systems.

And:

The bill, approved Tuesday, means that developers will be able to avoid paying commission to major app store operators — like Google and Apple — by directing users to pay via alternate platforms.

And Wedbush analyst Daniel Ives:

“It’s a potential watershed moment,” Ives said on CNBC’ “Street Signs Asia” on Monday ahead of the decision in Seoul. “Not necessarily for what this means in itself, but for the ripple effect as it shows that they’re not just words, but actually actions.”

This bill may likely have a relatively small direct impact on Apple’s App Store revenues, but the indirect impact may be huge, if other countries follow suit.