Cryptocurrency Mining Apps for iPhone & iPad Get Axed by Apple's New Guidelines

Apple Updates Guidelines: Crypto Mining Will Be Blocked on Its iPhone and iPad Devices

Multi-national tech firm, Apple has recently updated its developer guidelines, in which it has underlined the fact that its devices, namely the iPhone and iPads will not be used to mine cryptocurrencies. The changes were announced at the 2018 Apple Worldwide Developer Conference (WWDC), which was held in California. The reason for a rather sudden tweak is to prevent “crypto-jacking”, a scam in which individuals steal a fraction of a user’s device to mine cryptos.

AppleInsider was the first to publish the alterations via a detailed report. While it is uncertain as to how long it has been in effect, the following is an extract specifying the role cryptocurrencies and related matters will have on Apples’ apps:

3.1.5 (b) Cryptocurrencies:

  1. Wallets: Apps may facilitate virtual currency storage provided they are offered by developers enrolled as an organization
  2. Mining: Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).
  3. Exchanges: Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself
  4. Initial Coin Offerings: Apps facilitating Initial Coin Offerings (“ICOs”), cryptocurrency future trading, and other crypto-securities or quasi securities trading must come from established banks, securities firms, futures commission merchants (“FCM”), or other approved financial institutions and must comply with all applicable law
  5. Cryptocurrency apps may not offer currency for completing tasks, such has downloading other apps, encouraging other users to download, posting to social networks, etc.

[You can read the full App Store Review Guidelines here]

Clearly, the new rules listed above, can potentially help to prevent crypto scams that have been continually experiencing growth. However, some of them seem to be impeding cryptos’ overall growth, which can be problematic in the long run.

Regardless, this news is one of many that can potential lead crypto fanatics to lose hope, as Bitcoin sits at its lowest: $6726, which could be highly correlated to the $40 million Coinrail hack, a South Korean crypto exchange, which took place Sunday, June 10th, 2018.

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