Apple Outlaws Cryptocurrency Mining Apps

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Apps also can not offer cryptocurrencies as a reward for performing certain tasks such as downloading certain apps, or posting messages on social media. The new rules restrict apps that generate excess heat, pull unnecessary system resources, or otherwise drain battery or affect performance unnecessarily.

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

Another section of Apple's App Store review guidelines allows apps to mine for cryptocurrencies only if the process is performed off the device.

A man walks past an electric board showing exchange rates of various cryptocurrencies including Bitcoin (top L) at a cryptocurrencies exchange in Seoul, South Korea December 13, 2017. This could give Apple grounds to remove the Onavo app, although the software is still available despite the rules kicking in last week.

Notably, Apple said that it will not block the mining apps that mine outside of the device, like cloud-based mining.

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Six months after crypto exchange Coinbase's app became the number one trending app on the App Store, Apple has now apps to provide wallet services under a caveat.

But it's perusing the whole situation with a careful eye, noting that Initial Coin Offerings and other investments in digital money will need to come from established banks and securities firms, and approved financial institutions.

Moreover, Apple will no longer allow reward-based crypto marketing with App Store listed apps.

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".

And apps won't be allowed to offer cryptocurrency in exchange for letting them complete other tasks such as downloading additional apps or posting on social networks.

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