Published: Wed, June 13, 2018
Hi-Tech | By Kristin Zimmerman

Apple Bans Cryptocurrency Mining on iOS

Apple Bans Cryptocurrency Mining on iOS

Apps related to cryptocurrencies, such as Bitcoin wallets and the accessing of exchanges will still be allowed on iPads and iPhones, so Apple isn't turning its back on the surging interest in cryptocurrencies.

Another section of Apple's App Store review guidelines allows apps to mine for cryptocurrencies only if the process is performed off the device.

At WWDC 2018, Apple announced its iBooks app for iPhone and iPad would soon re-launch as Apple Books, and now the company has shared more details about the app in a press release. This is not a move against cryptocurrency apps in general.

That said, many apps on the iOS store claim to offer users opportunity to mine cryptocurrencies from their devices, which in my opinion is the angle that Apple is also coming from.

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

Apple additionally wants to ensure the seriousness of Initial Coin Offerings, cryptocurrency futures trading, and other crypto-securities or quasi-securities trading. Apple is making it harder for its App Store developers to gain or profit off of users' information, much of which the user may not be even be aware that the developer can access.

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.

In July 2017, Apple 'approved' Dash as a cryptocurrency. However, only official digital wallets providers and exchanges will be able to post their apps, potentially cutting out shady third-party software from facilitating cryptocurrency transactions. It also insisted that apps involved in Initial Coin Offerings, cryptocurrency futures trading and the like had to come from established banks, securities firms, futures commissions merchants or other approved financial institutions.

Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc.

Like this: