Monday, 18 June, 2018

Apple bans mining cryptocurrency on iPhones (AAPL)

Apple Updates App Store Guidelines, Tightens Rules for Crypto-Related Apps Apple's App Store To Host New Support For Cryptocurrencies
Katie Ramirez | 12 June, 2018, 02:04

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". Along with new apps, the guidelines will apply to existing apps as well.

The only limitation that Apple are putting down is that no apps will be allowed that encourage payments of cryptocurrencies or the incentivisation of cryptocurrencies to people who download certain apps or advertise certain cryptocurrency-based apps. In the most recent update, that section's language precludes apps from hiding mining (or other) features within background tasks.

Cryptocurrency miners utilize large networks of devices, including iPhones and iPads, to help them mine.

Two sections have been updated in the new App Store Review Guidelines -section 2.4.2 (Hardware Compatibility) and 3.1.5 (b) (ii) (Cryptocurrencies).

Apple is cracking down on cryptocurrency activity on its devices. These conditions extend to apps providing cryptocurrency futures trading, and other crypto-securities or quasi-securities trading. Any apps that facilitate ICOs, futures trading or other securities must be provided by established banks, securities firms and futures commission merchants (FCMs).

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

If you haven't worked it out yet, this news is very good news and will see some brand-new cryptocurrency-based applications go live on the App Store.

Speaking to CCN at the time, Jaxx CEO Anthony Di Iorio revealed Apple had stuck to approving a select six cryptocurrencies, namely: Bitcoin, Ethereum, Dogecoin, Litecoin, Ripple and the then DAO token.

Similarly, Apple is also allowing apps to facilitate crypto transactions "on an approved exchange, provided they are offered by the exchange itself".

According to the new rules, Apple will no longer allow indie developers to publish any wallet app on the App Store as only developers affiliated with a registered organization are eligible.

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

More news: Amazon expands Whole Foods discounts to 10 states

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