Published: Tue, June 12, 2018
IT | By Lester Massey

Apple Bans Apps That Mine Cryptocurrencies

Apple Bans Apps That Mine Cryptocurrencies

There is plenty of competition to solve these equations and section 2.4 of the iOS guidelines require that apps from third party developers need to "use power efficiently", and not "rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources".

Aside from banning crypto mining on its devices, Apple also outlined the general use of cryptocurrencies. For instance, apps facilitating any exchange or transfer of cryptocurrencies like bitcoin were mandated to abide in compliance with all federal and relevant state laws of its offering.

Since the App Store is virtually the only place to acquire software for iPhones, iPads, iPod touches, Apple TVs, and Apple Watches, Apple's decision will effectively end crypto mining on those devices.

"In addition, apps may not mine directly for cryptocurrencies, unless the mining is performed in the Cloud or otherwise off-device", it stated. Any apps that facilitate ICOs, futures trading or other securities must be provided by established banks, securities firms and futures commission merchants (FCMs).

In sticking with the original mandate, only mainstream banks and similar financial institutions will be allowed to develop and publish apps enabling crypto futures trading and initial coin offerings, Apple said.

Along with new apps, the guidelines will apply to existing apps as well. The technology giant reversed its stance soon after, despite pulling moves like removing multi-cryptocurrency wallet Jaxx after its disapproval of Dash in 2016.

The change, which was only noticed on Monday, was likely driven by concerns over cryptocurrency mining draining device batteries.

Apps offering wallets to store virtual currencies can only come from coders who are part of an organization participating in Apple's developer program.

Apple had pulled crypto-related apps from the App Store like Coinbase, citing an unresolved issue, though the apps later returned in 2017, following which for a time, Coinbase became the most downloaded app in the App Store.

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