New App Store guidelines prohibit cryptocurrency mining

The guidelines also restrict who can publish apps to store and trade cryptocurrencies

App Store

Apple has updated its App Store guidelines to ban cryptocurrency mining on iOS devices.

The new guidelines prohibit mining and restrict the use of currency storage, trading and more.

In Hardware Compatibility section 2.4.2, the guidelines prohibit apps or advertisements within apps from running background processes “such as cryptocurrency mining.”

Under section 3.1.5b, guidelines are laid out regarding currency storage, mining and exchanges.

According to the guidelines, developers enrolled as an organization may publish apps facilitating virtual currency storage. Furthermore, apps can’t perform on-device mining for cryptocurrency. However, apps can allow users to do cloud-based mining. Finally, apps may facilitate transactions and transfers of cryptocurrency on an approved exchange.

On top of that, Apple also restricts Initial Coin Offerings (ICOs), cryptocurrency futures trading and other crypto-securities trading to established banks, securities firms and other approved financial institutions. Additionally, all trading must comply with applicable laws.

Cryptocurrency apps also may not offer users currency rewards for completing tasks. Apple outlines things like downloading apps or encouraging other users to download apps and posting to social networks as examples.

Previously the only restrictions for cryptocurrency was that apps facilitating those transactions must comply with all state and federal laws for the territories where the app is used.

Apple’s crackdown on crypto follows a general trend towards stricter policy regarding cryptocurrency. Twitter, Facebook and Google have all moved to ban cryptocurrency advertisements. The tech giants are hoping to cut down on scams surrounding the hot new trend in computing.

Source: AppleInsider