Published: Tue, June 12, 2018
Technology | By Christopher Mann

Apple Bans Cryptocurrency Mining on iOS

Apple Bans Cryptocurrency Mining on iOS

Well, a key part of the new guidelines discusses cryptocurrencies and how cryptocurrencies and blockchain technologies can be integrated into new app development for the Apple App Store. However, apps can provide cloud-based mining services. The rules appear to be an attempt to nip any kind of "crypto-jacking", an increasingly common scam that hijacks a small portion of a users' device to mine cryptocurrency without them realizing.

Apple has now chose 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. "Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining". Other cryptocurrency-related functions, like managing or trading cryptocoin funds, are still permitted. 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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Speaking to CCN at the time, Jaxx CEO Anthony Di Iorio revealed Apple had stuck to approving a select six cryptocurrencies, namely: Bitcoin, Ethereum, Dogecoin, Litecoin, Ripple and the then DAO token. The app even made it to number 3 in the finance category of the App Store before Apple pulled it down.

The upshot of the new rules is that while Apple will permit cryptocurrencies to exist on its platforms, it's adding requirements to stop scammers and individuals from exploiting App Store customers, while making explicit that it's blocking developers from eating Apple device processing power for mining activities.

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Apple is also cutting down on third-party apps providing crypto transactions on approved exchanges.

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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