Apple bans cryptocurrency mining from its app stores
Apple bans cryptocurrency mining from its app stores
Credit The Intercept
12 June, 2018, 05:17
The section also bans apps and any third-party ads from running "unrelated background processes, such as cryptocurrency mining". No apps may mine crypto, unless they process that mining off the device, like in cloud-based mining.
Some of this will actually be good news for crypto investors. "Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization", the policy states. Crypto wallets are also now officially legal, settling a gray area that has existed for months.
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It's a new rule included in the latest version of Apple's App Store policies, released last week as part of the company's annual developer conference.
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.
The guidelines reference cryptocurrency mining in two places, in a section about power efficiency (2.4.2) and a separate Cryptocurrencies section (3.1.5). In a dedicated cryptocurrency section, the company goes on to break down in more detail what is - and, crucially, is not - permissible. These, Apple writes, "must come from established banks, securities firms, futures commission merchants, or other approved financial institutions and must comply with all applicable law". These conditions extend to apps providing cryptocurrency futures trading, and other crypto-securities or quasi-securities trading.
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