Apple Bans Apps That Mine Cryptocurrencies

Apple Bans Apps That Mine Cryptocurrencies

The latter has five subsections that further describe what apps can and cannot do in terms of cryptocurrency. However, apps can provide cloud-based mining services. Under the mandated rules.

Apple also has an existing section addressing cryptocurrency apps on its App Store that's been in place since about 2014. 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". In the most recent update, that section's language precludes apps from hiding mining (or other) features within background tasks. The rules appear to be an attempt to nip any kind of "crypto-jacking", an increasingly common scam that hijacks a small portion of a users' device to mine cryptocurrency without them realizing. News about Apple's changes to the App Store aren't likely to play particularly well.

"Apps facilitating Initial Coin Offerings ("ICOs"), cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants ("FCM"), or other approved financial institutions and must comply with all applicable law", read the unchanged policy first unveiled in December.

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Moreover, Apple will no longer allow reward-based crypto marketing with App Store listed apps.

Apple has previously blocked apps for supporting cryptocurrencies it disapproves of. Next, Apple plan on allowing cryptocurrency exchange applications and they even want to allow apps that facilitate initial coin offerings (ICO's), providing they comply with local laws.

During Apple's Worldwide Developers Conference last week, the company released new App Store guidelines that ban cryptocurrency mining on both iOS devices and Mac. The guidelines noted: "Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc".

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