Apple is cracking down on cryptocurrency activity on its devices. During Apple’s Worldwide Developers Conference last week, the company released new App Store guidelines that ban cryptocurrency mining on both iOS devices and Mac.
This is the first time Apple has offered a clear stance on its policy on cryptocurrency apps. It comes amid explosive interest in cryptocurrencies like bitcoin, which are “mined” when people use multiple devices to solve complex mathematical problems that lock and unlock information in the blockchain. They’re rewarded as each transaction is secured.
Apple said under the hardware compatibility section of its App Store policy.
“Apps, including any third-party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining,”
It sets forth five rules:
Some of this will actually be good news for crypto investors. Exchanges can offer fully-featured apps offering trading abilities, as long as the apps are issued by the exchanges themselves and not third parties.
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