Apple Bans Cryptocurrency Mining On All Devices

Cryptocurrency coins

Apple Updates App Store Guidelines, Tightens Rules for Crypto-Related Apps

"Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining", the new guideline reads.

Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).

In perhaps somewhat related news, Bitcoin (and most other cryptocurrencies) have fallen almost 8% in value over the last day, following the hack of South Korean crypto exchange Coinrail over the weekend.

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Apple is cracking down on cryptocurrency activity on its devices.

Some of this will actually be good news for crypto investors. Wallet apps for crypto are fine, as long as the developer is enrolled as an organization.

Titled Cryptocurrencies, new section 3.1.5 (b) provides five clear rules for what will and won't be allowed in macOS, iOS, tvOS, and watchOS apps going forward.

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Apple also has an existing section addressing cryptocurrency apps on its App Store that's been in place since about 2014.

(Kitco News) - Tech giant Apple has taken a major step against cryptocurrencies by outlawing digital mining on all of its devices, including iPhones, iPads, iMacs, MacBook Pros, and others. These conditions extend to apps providing cryptocurrency futures trading, and other crypto-securities or quasi-securities trading. Initial offerings including futures investments, or other securities dealing with cryptocurrencies must be offered by an established bank, securities firm or exchange.

Four years ago, Apple removed every single bitcoin wallet application on its App Store, including popular wallet app Blockchain. Exchanges are fine, too, as long as they are the ones offering transactions or transmissions of currency. In a dedicated cryptocurrency section, the company goes on to break down in more detail what is - and, crucially, is not - permissible. The guidelines noted: "Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc".

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