Tech

Apple bans cryptocurrency mining on iPhone and iPad

on

Apple today has updated its app guidelines to stop developers from sneaking any functionality into the apps within the company’s ecosystem. The company now says that “apps, including any third party advertisements displayed within them, should not run any unrelated background processes; cryptocurrency mining.

According to May guidelines, Apple allowed apps to facilitate crypto transactions given that they do so in compliance with all state and federal laws making the ICO language nearly identical as well. Apple says that Wallet apps are fine, but the developer is enrolled as an organisation. Apple won’t allow apps to mine crypto, unless they process off the device, like in cloud-based mining. It will also allow exchanges as long as they are offering transactions of currency.

Apps that facilitate ICOs, futures trading or other securities must be provided by established banks, securities firms and futures commission merchants (FCMs). The company won’t allow apps to offer currency as a reward for downloading other apps. The company is also against posting to social networks or encouraging other users to download apps. Going back in time, back in 2013 and 2014, Apple banned Coinbase and other crypto-related apps from the App Store.

About Samtechng

Leave a Reply

Your email address will not be published. Required fields are marked *