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Apple has officially revised the App Store's cryptocurrency guidelines
12 June 2018, 02:49 | Cameron Gross
Bitcoin rebounded on Tuesday despite reports that Apple banned mining on all of its devices
Apple also has an existing section addressing cryptocurrency apps on its App Store that's been in place since about 2014. No apps may mine crypto, unless they process that mining off the device, like in cloud-based mining.
Apple has put restrictions on apps that mine cryptocurrencies using device processing power, specifically disallowing such programs in its App Store.
"Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources", the company stated in the paragraph banning cryptocurrency mining processes from running in the background. As per Apple Insider, Apple's crypto-related guidelines were originally created in 2014 after the app store unlisted Coinbase and other cryptocurrency apps stating some unresolved issue.
The company also warned developers that any apps that facilitate initial coin offerings (ICOs) and cryptocurrency futures trading must come from established banks and approved financial firms.
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According to the new rules, Apple will no longer allow indie developers to publish any wallet app on the App Store as only developers affiliated with a registered organization are eligible.
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. On macOS, however, users will continue to be able to acquire apps outside of the Mac App Store, enabling mining and other activities to continue without Apple's seal of approval.
Apps may "facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself".
And apps may not offer cryptocurrency as an incentive for taking specific actions, such as downloading other apps, posting to social media or urging others to download apps.
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