Apple Releases Revised Guidelines on Crypto, ICOs, Mining and More

apple crypto policy

Tech giant and the most valuable brand in the world, Apple, has released revised guidelines for its iOS and MacOS apps that pertain to the cryptocurrency industry.

Back when bitcoin neared its all-time high of $20,000, Apple – best known for their best-selling iPhone, iPads, and line of Mac computers and laptops – first added a new section on cryptocurrencies and ICOs to its App Store Review Guidelines that clearly state that any exchange-based apps allowing the purchase of cryptocurrencies must abide by relevant federal and state laws. Apps enabling the purchase of tokens through initial coin offerings also must follow applicable laws.

The new update now includes addendums that focus on other cryptocurrency related functions such as apps that work as web wallets, or apps that enable mining on any of Apple’s devices. Most of the new guidelines are focused on mining, which Apple says can “rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources.”

The guidelines state:

“Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining.”

The Cupertino-based firm likely made the decision to block any apps that include cryptocurrency mining due to the widespread proliferation of cryptojacking.

The guidelines further clarify:

“Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).”

Apple will continue to allow crypto wallet apps, but has also specifically barred any apps from offering cryptocurrency “rewards” for completing tasks or posting to social media networks. This change could pose problems for Coinbase's recently acquired Earn platform that offers rewards in bitcoin through its iOS application.

In related news, Apple has also added a number of altcoins to its native Stocks app, including XLM, XRP, and more.