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Apple's App Store To Host New Support For Cryptocurrencies

Apple's App Store To Host New Support For Cryptocurrencies

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Titled Cryptocurrencies, new section 3.1.5 (b) provides five clear rules for what will and won't be allowed in macOS, iOS, tvOS, and watchOS apps going forward.

The ban is clearly spelled out in the new set of developer guidelines for the App Store released during Apple Worldwide Developers Conference (WWDC), which took place last week.

Apple has also outlawed apps from mining cryptocurrencies on the device altogether. 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".

The only limitation that Apple are putting down is that no apps will be allowed that encourage payments of cryptocurrencies or the incentivisation of cryptocurrencies to people who download certain apps or advertise certain cryptocurrency-based apps. No apps may mine crypto, unless they process that mining off the device, like in cloud-based mining. These, Apple writes, "must come from established banks, securities firms, futures commission merchants, or other approved financial institutions and must comply with all applicable law".

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

Apple has previously blocked apps for supporting cryptocurrencies it disapproves of.

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.

Similarly, Apple is also allowing apps to facilitate crypto transactions "on an approved exchange, provided they are offered by the exchange itself". The company took this step after hidden cryptocurrency mining has become the most popular cybercrime trend among malware developers this past year.

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