Apple's App Store To Host New Support For Cryptocurrencies

Adjust Comment Print

Developers could use this shared medical data to personalise apps tailored for medication tracking, disease management, nutrition planning and medical research.

The new language covers both types of cryptocurrency mining, active and passive, while ensuring Apple users aren't experiencing any performance drain from either. But the company later pulled the app, reportedly because the software's mining function could drain a Mac's battery life and cause excessive heat. Though the letter predominantly focused on allowing free trials for all apps in the App Store, it also requested that Apple make more "developer-friendly changes" to its Review Guidelines.

Further adding to the pressure on cryptocurrencies, Bitcoin's price declined on Monday following the hacking of South Korean cryptocurrency exchange Coinrail.

In terms of what Apple will allow, cryptocurrency wallet apps are still allowed, "provided they are offered by developers enrolled as an organization".

The ban applies for apps designed explicitly with mining operations in mind. The move comes at a time when 'cryptojacking', a malware attack wherein malicious attackers scrumptiously hijack a computer or a phone's computing power to mine cryptocurrencies, is a growing menace. Apple's new iOS guidelines, specifically listed under section 3.15 called cryptocurrencies, ban apps from mining for Bitcoins and other virtual currencies unless it is done off-device (via the cloud).

Kwesi Nyantakyi resigns as Ghana FA President after bribery exposé
The football chief said "scammers" had "deceived me into thinking they were genuine persons interested in investing in our country".

Addressing the rising frauds with the unregulated initial coin offering-based (ICO) fundraising technique, Apple is now only allowing apps from established banks, securities firms, futures commission merchants ("FCM"), or other approved financial institutions.

Apple previously declared that apps transmitting approved cryptocurrencies had to do so in compliance with applicable laws.

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.

Finally, the world's most valuable company has also mandated that apps do not offer cryptocurrency as rewards to users for completing tasks.