Apple bans cryptocurrency mining from its app stores

Apple is launching a new app called Books that will debut this fall with iOS 12

Apple has now chose to take stern steps to prevent such scenarios from happening again, mainly because mining operations tend to drag down the OS, making the entire device slower, and diminishing the well-crafted macOS and iOS experiences. In the most recent update, that section's language precludes apps from hiding mining (or other) features within background tasks. The former says that apps "may not run unrelated background processes, such as cryptocurrency mining". For instance, apps facilitating any exchange or transfer of cryptocurrencies like bitcoin were mandated to abide in compliance with all federal and relevant state laws of its offering.

Since the App Store is virtually the only place to acquire software for iPhones, iPads, iPod touches, Apple TVs, and Apple Watches, Apple's decision will effectively end crypto mining on those devices. That's 52.2 Million news homes for the wealth of App Store apps that are being created, under these new Apple guidelines.

In sticking with the original mandate, only mainstream banks and similar financial institutions will be allowed to develop and publish apps enabling crypto futures trading and initial coin offerings, Apple said.

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Two sections have been updated in the new App Store Review Guidelines -section 2.4.2 (Hardware Compatibility) and 3.1.5 (b) (ii) (Cryptocurrencies).

Apple has previously blocked apps for supporting cryptocurrencies it disapproves of. Exchanges can offer fully-featured apps offering trading abilities, as long as the apps are issued by the exchanges themselves and not third parties. Next, Apple plan on allowing cryptocurrency exchange applications and they even want to allow apps that facilitate initial coin offerings (ICO's), providing they comply with local laws. 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.

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