Apple Publishes Revised Cryptocurrency, ICO Guidelines for App Store

Apple Publishes Revised Cryptocurrency, ICO Guidelines for App Store

Though there are multiple changes to the guidelines concerning this issue, the company seems to be putting a special focus on cracking down on apps used for cryptocurrency mining.

However, mining for cryptocurrency is only acceptable if "performed off-device", such as in the case of cloud-based mining.

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

Apple has updated its review guidelines to specifically prohibit iOS and Mac apps uploaded on the company's official App Store from utilizing users' devices for cryptocurrency mining operations.

Apple has also updated section 3.1.5 (b), which is specific to cryptocurrencies.

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After Facebook and Google, Apple has now targeted cryptocurrency, banning its mining on iPhones and iPads. This could give Apple grounds to remove the Onavo app, although the software is still available despite the rules kicking in last week. Spotted by AppleInsider, the new rules say that "apps, including any third part advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining".

But it's perusing the whole situation with a careful eye, noting that Initial Coin Offerings and other investments in digital money will need to come from established banks and securities firms, and approved financial institutions.

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

Wallets coded by developers enrolled as an organisation are also allowed, as are apps that facilitate transactions or transmissions of cryptocurrencies, provided these are offered by the exchanges in question. The guidelines noted: "Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc".

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