Apple bans cryptocurrency mining on iPhones and iPads

12 June, 2018, 02:07 | Author: Sammy Rose
  • Attendees wait for an announcement of new products at the Apple Worldwide Developers Conference in San Jose California

Apple has now made a decision to take stern steps to prevent such scenarios from happening again, mainly because mining operations tend to drag down the OS, making the entire device slower, and diminishing the well-crafted macOS and iOS experiences. Apple allows apps like Coinbase and Robinhood to enable users to trade Bitcoin, Ethereum, and other cryptocurrencies, so it's not a complete ban on mobile crypto. However, apps can provide cloud-based mining services. 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. 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".

During its recent Worldwide Developer Conference, Apple quietly slipped some language into the App Store review guidelines that prevent anyone from using iPhones and iPads to mine cryptocurrency.

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. Any apps that facilitate ICOs, futures trading or other securities must be provided by established banks, securities firms and futures commission merchants (FCMs).

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Four years ago, Apple removed every single bitcoin wallet application on its App Store, including popular wallet app Blockchain.

In addition, Apple is giving its full support to cryptocurrency wallet apps, as long as they are "offered by developers enrolled as an organization". Exchanges are fine, too, as long as they are the ones offering transactions or transmissions of currency.

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

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