Apple Updates App Store Guidelines, Tightens Rules for Crypto-Related Apps

Saul Franklin
June 13, 2018

Apple already saw some of the apps available through its store mine cryptocurrency on users' devices in exchange for some premium features.

(Kitco News) - Tech giant Apple has taken a major step against cryptocurrencies by outlawing digital mining on all of its devices, including iPhones, iPads, iMacs, MacBook Pros, and others.

Perhaps, the iPhone maker's new policy is partly, if not entirely, motivated by concerns that mining could drain the batteries of devices.

The updated guidelines, posted last week, are found in the Hardware Compatibility and Cryptocurrencies sections of the document.

As crypto mining through apps becomes more prevalent Mac has had to address it in the release of their new guidelines.

Do you think Apple's ban on direct cryptocurrency mining apps is justified?

A man walks past an electric board showing exchange rates of various cryptocurrencies including Bitcoin (top L) at a cryptocurrencies exchange in Seoul, South Korea December 13, 2017. This is not a move against cryptocurrency apps in general.

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Notably, Apple said that it will not block the mining apps that mine outside of the device, like cloud-based mining.

Apps facilitating Initial Coin Offerings (ICOs) must come from "established banks, securities firms, futures commission merchants ('FCM'), or other approved financial institutions".

Four years ago, Apple removed every single bitcoin wallet application on its App Store, including popular wallet app Blockchain.

Apps may "facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself".

The company has listed the complete guidelines on the section of cryptocurrency.

In terms of what Apple will allow, cryptocurrency wallet apps are still allowed, "provided they are offered by developers enrolled as an organization". Cryptocurrency apps can't offer users virtual coin for tasks like downloading other apps, getting other users to download the app, or boosting social media activity.

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