Apple Bans Apps That Mine Cryptocurrencies

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Because the App Store is the only way for most people to install software on their iPhones, Apple's new rule also suggests that there may not be any purpose-built apps to mine cryptocurrency either - not that any of these apps would really make any money for users.

It's a new rule included in the latest version of Apple's App Store policies, released last week as part of the company's annual developer conference.

Following Apple's widely publicized mid-March removal of the Mac app Calendar 2 for running a cryptocurrency mining tool in the background, the App Store's Review Guidelines have been updated to explicitly ban on-device mining - across any type of app, and all of Apple's platforms.

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

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"Apps may not mine for cryptocurrencies unless the processing is performed off device", the guidelines now state. 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.

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

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. The company took this step after hidden cryptocurrency mining has become the most popular cybercrime trend among malware developers this past year. Finally, cryptocurrency apps can't offer currency as a reward for downloading other apps, posting to social networks or encouraging other users to download apps.

Apple is also cutting down on third-party apps providing crypto transactions on approved exchanges.

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