Apple Publishes Revised Cryptocurrency, ICO Guidelines for App Store

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Apple has updated its review guidelines to specifically prohibit iOS and Mac apps uploaded on the company's official App Store from utilizing users' devices for cryptocurrency mining operations. For instance, apps facilitating any exchange or transfer of cryptocurrencies like bitcoin were mandated to abide in compliance with all federal and relevant state laws of its offering.

During its recent Worldwide Developer Conference, Apple quietly slipped some language into the App Store review guidelines that prevent anyone from using iPhones and iPads to mine cryptocurrency.

Apple is cracking down on cryptocurrency activity on its devices. That's 52.2 Million news homes for the wealth of App Store apps that are being created, under these new Apple guidelines. The former says that apps "may not run unrelated background processes, such as cryptocurrency mining".

This is the first time Apple has offered a clear stance on its policy on cryptocurrency apps. Any apps that facilitate ICOs, futures trading or other securities must be provided by established banks, securities firms and futures commission merchants (FCMs). These conditions extend to apps providing cryptocurrency futures trading, and other crypto-securities or quasi-securities trading.

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.

The tech giants of the world (and probably the entire galaxy), Apple, have recently updated the rules and regulations for developers who wish to develop applications which will be available for download on the Apple App Store.

Apple is also cutting down on third-party apps providing crypto transactions on approved exchanges. The guidelines noted: "Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc".

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