Apple Prohibits Crypto Mining in Apps with New Guidelines

Apple CEO Tim Cook

Apple CEO Tim Cook

Spotted by AppleInsider, the new rules say that "apps, including any third part advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining". Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources.

Apple has patched a little-known App Store loophole that enabled developers to harvest data on iOS users' contacts, thereby limiting third-party access to potentially unprotected sources of personal information.

Apple has reviewed its app developer guidelines following an incident with the Calendar 2 app by Qbix in March.

Note: Apps for trading cryptocurrencies and tracking prices will not be affected by the changes.

While the idea of mining cryptocurrency on an iPhone is nearly laughable, the message doesn't appear to be targeting apps built for the objective of mining cryptocurrency; those were already banned in a 2014 update. This is not a move against cryptocurrency apps in general.

Apple Updates App Store Guidelines, Tightens Rules for Crypto-Related Apps
Apple bans mining cryptocurrency on iPhones (AAPL)

However, with the latest addition in the App Store guidelines (via AppleInsider), Apple has gone official with its iOS-wide ban on cryptocurrency mining apps. This includes the production of wallets and the production of apps for cloud-based mining (no apps will be permitted that allow local mining on iPhones specifically). Similarly, apps involved in initial coin offerings, bitcoin futures trading, or other cryptocurrency securities trading need to be from the banks, firms, or other approved financial institutions.

If you haven't worked it out yet, this news is very good news and will see some brand-new cryptocurrency-based applications go live on the App Store.

Apple will allow virtual currency wallet apps, as long as they're offered by developers who are enrolled as organizations.

Apple further disallowed cryptocurrency apps that reward users for completing tasks such as downloading other apps or coaxing other users to do the same or to make social media posts.

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