Apple’s App Store officially bans cryptocurrency mining

Apple has previously blocked apps for supporting cryptocurrencies it disapproves

Apple has previously blocked apps for supporting cryptocurrencies it disapproves

After Google, Facebook, and Twitter, now it's time for Apple to join its Silicon Valley counterparts in restricting the crypto industry.

As bitcoin prices peaked near $20,000 in December 2017, Apple unveiled a new section of guidelines specific to cryptocurrencies and ICOs on December 20.

Well, a key part of the new guidelines discusses cryptocurrencies and how cryptocurrencies and blockchain technologies can be integrated into new app development for the Apple App Store. Earlier in the year, Apple removed Calendar 2 from the Mac App Store because the app would offer mining cryptocurrency on devices in exchange for premium features.

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Apple has announced new App Store restrictions, banning the use of cryptocurrency mining apps on iPhones and iPads. The former says that apps "may not run unrelated background processes, such as cryptocurrency mining".

After the cryptominer was found to contain buggy code that made CPU usage on users devices spike, Apple pulled Calendar 2 from the macOS App Store. 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). Exchanges can offer fully-featured apps offering trading abilities, as long as the apps are issued by the exchanges themselves and not third parties. According to the rulebook, only official apps developed by the exchange itself can provide such services. That's 52.2 Million news homes for the wealth of App Store apps that are being created, under these new Apple guidelines. Initial offerings including futures investments, or other securities dealing with cryptocurrencies must be offered by an established bank, securities firm or exchange.

Apple additionally wants to ensure the seriousness of Initial Coin Offerings, cryptocurrency futures trading, and other crypto-securities or quasi-securities trading.

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