Apple changes app store guidelines on cryptocurrency mining

2 min read

If you thought everyone loved cryptocurrency, think again: Apple has banned cryptocurrency mining on iOS devices. In a change that has coincided with WWDC, Apple has quietly updated the terms on the app store. Guidelines now state that “Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining.”

First spotted by Apple Insider, this move by Apple actually follows a series of actions by tech companies to tackle a number of issues in the cryptocurrency world. Earlier this year both Google and Facebook banned cryptocurrency ads too – all of which suggests the cryptocurrency bubble might be slowly bursting.

There is a slight loophole – Apple’s guidelines allow you to mine cryptocurrency provided it’s done externally to the device. Cloud mining would be fine. Of course, why you’d want to mine, say, Bitcoim, with your IPhone does seema bit strange. Given users complain about battery life now, the processing power required to mine cryptocurrency will sap your device’s life incredibly quickly.

Here is the main section of cryptocurrencies in the app store guidelines:

3.1.5 (b) Cryptocurrencies:

(i) Wallets: Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization.
(ii) Mining: Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).
(iii) Exchanges: Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself.
(iv) Initial Coin Offerings: Apps facilitating Initial Coin Offerings (“ICOs”), cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants (“FCM”), or other approved financial institutions and must comply with all applicable law.
(v) Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc.