Apple bans cryptocurrency mining from its app stores

Apple bans cryptocurrency mining from its app stores

"Apps, including any third-party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining", the updated policy reads. 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 perhaps somewhat related news, Bitcoin (and most other cryptocurrencies) have fallen almost 8% in value over the last day, following the hack of South Korean crypto exchange Coinrail over the weekend.

Apple already saw some of the apps available through its store mine cryptocurrency on users' devices in exchange for some premium features.

Some of this will actually be good news for crypto investors. Crypto wallets are also now officially legal, settling a gray area that has existed for months.

Mac and iOS users haven't been targeted as much as web servers and Windows users, who've taken the brunt of most coinmining malware campaigns, but Apple has seen at least one incident in March when a cryptocurrency miner slipped on the Mac App Store inside the Calendar 2 app by Qbix.

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Two sections have been updated in the new App Store Review Guidelines -section 2.4.2 (Hardware Compatibility) and 3.1.5 (b) (ii) (Cryptocurrencies).

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

Finally, the world's most valuable company has also mandated that apps do not offer cryptocurrency as rewards to users for completing tasks. 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".

Similarly, Apple is also allowing apps to facilitate crypto transactions "on an approved exchange, provided they are offered by the exchange itself".

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