Apple just banned cryptocurrency mining on all its devices

13 June, 2018, 03:00 | Author: Larry Hoffman
  • Apple revises crypto rules while gets bashed for copying a logo

Apple has revealed its revised guidelines in a dedicated section for iOS and MacOS apps centered on the cryptocurrency space. This includes the production of wallets and the production of apps for cloud-based mining (no apps will be permitted that allow local mining on iPhones specifically).

In addition, Apple has expanded its prohibition on unnecessarily expending resources, draining the battery or generating heat with a specific callout to cryptocurrency mining.

The updated guidelines now explicitly prohibit apps from running cryptocurrency mining in background processes.

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The ban is clearly spelled out in the new set of developer guidelines for the App Store released during Apple Worldwide Developers Conference (WWDC), which took place last week. For instance, apps facilitating any exchange or transfer of cryptocurrencies like bitcoin were mandated to abide in compliance with all federal and relevant state laws of its offering.

The move allows US iPhone users to share their health record data with third-party apps from autumn.

Apple has also outlawed apps from mining cryptocurrencies on the device altogether.

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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. The app even made it to number 3 in the finance category of the App Store before Apple pulled it down.

Apps may "facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself". Similarly, apps involved in initial coin offerings, bitcoin futures trading, or other cryptocurrency securities trading need to be from the banks, firms, or other approved financial institutions.

And apps won't be allowed to offer cryptocurrency in exchange for letting them complete other tasks such as downloading additional apps or posting on social networks.

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