Apple bans mining cryptocurrency on iPhones (AAPL)

Angelica Greene
June 12, 2018

Apple showcased a range of new software titles like iOS 12 and macOS 10.14 Mojave during its brief WWDC 2018 keynote speech last week, then, in the days thereafter, the company went on to spend a wealth of hands-on time engaging with iOS, macOS and other developers, familiarizing them with all the new features and capabilities coming later this year to Apple products. Under the mandated rules.

Following Apple's widely publicized mid-March removal of the Mac app Calendar 2 for running a cryptocurrency mining tool in the background, the App Store's Review Guidelines have been updated to explicitly ban on-device mining - across any type of app, and all of Apple's platforms.

(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. Initial offerings including futures investments, or other securities dealing with cryptocurrencies must be offered by an established bank, securities firm or exchange.

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Four years ago, Apple removed every single bitcoin wallet application on its App Store, including popular wallet app Blockchain. The app even made it to number 3 in the finance category of the App Store before Apple pulled it down.

Moreover, Apple will no longer allow reward-based crypto marketing with App Store listed apps. It also rules that, "Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc".

Making its position clear " Purchasing and Currencies 11.17 Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions".

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