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

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

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

News about Apple's changes to the App Store aren't likely to play particularly well. Next, Apple plan on allowing cryptocurrency exchange applications and they even want to allow apps that facilitate initial coin offerings (ICO's), providing they comply with local laws. Under the mandated rules.

Apple's new iOS guidelines, specifically listed under section 3.15 called cryptocurrencies, ban apps from mining for Bitcoins and other virtual currencies unless it is done off-device (via the cloud).

(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.

"Apps, including any third-party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining", the updated policy reads.

Apple has a clear message for cryptocurrency enthusiasts: Don't mine it on our devices.

The new rules ban any app from directly mining cryptocurrency. Any apps that facilitate ICOs, futures trading or other securities must be provided by established banks, securities firms and futures commission merchants (FCMs). On macOS, however, users will continue to be able to acquire apps outside of the Mac App Store, enabling mining and other activities to continue without Apple's seal of approval. Exchanges can offer fully-featured apps offering trading abilities, as long as the apps are issued by the exchanges themselves and not third parties.

Finally, the world's most valuable company has also mandated that apps do not offer cryptocurrency as rewards to users for completing tasks.

Similarly, Apple is also allowing apps to facilitate crypto transactions "on an approved exchange, provided they are offered by the exchange itself". It also rules that, "Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc".