Apple bans cryptocurrency minning

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Interestingly during Apple’s recent Worldwide Developer Conference, during review of rules for Apple store app downloads Apple hinted at restricting use of iPhones and iPads to mine cryptocurrency. The new rules say that “applications including third party ads displayed with them, may not run background processes, such as cryptocurrency mining.” Under this rule the hijackers would not be able to use a small portion of user’s device to mine cryptocurrency without them realizing.

apple-mine

The bad news further added to the decline of Bitcoin as it fall nearly 8 % over the last day due to South Korean crypto exchange Coinrail hack. Bitcoin price has currently dropped to as low as $6,750. The news of changes in rules for Apple store will also further affect the Bitcoin price.

Apple has clearly dedicated entire section for rules on cryptocurrency in its guidelines that apply to iOS, macOS, watchOS, and tvOS apps. The rules are as follows:-

  1. Apple will allow virtual currency wallet apps, as long as they’re offered by developers who are enrolled as organizations.
  2. The only cryptocurrency mining apps allowed are those that mine outside of the device, like cloud-based mining.
  3. Apps can help users make pay, trade, or receive cryptocurrency on an approved exchange, but the apps must be from the exchanges themselves.
  4. 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. And they must be lawful.
  5.  Cryptocurrency apps can’t offer users virtual coin for tasks like downloading other apps, getting other users to download the app, or boosting social media activity.

 

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