Apple Updates App Store Guidelines, Tightens Rules for Crypto-Related Apps

Apple Updates App Store Guidelines, Tightens Rules for Crypto-Related Apps

Apple Updates App Store Guidelines, Tightens Rules for Crypto-Related Apps

The new rules ban any app from directly mining cryptocurrency.

These are all new requirements that app developers need to be aware of that were not in the guidelines before.

Apple has put restrictions on apps that mine cryptocurrencies using device processing power, specifically disallowing such programs in its App Store.

For those interested in cryptocurrencies, don't expect to do any mining via apps installed on the iPhone. Spotted by AppleInsider, the new rules say that "apps, including any third part advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining".

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Apple additionally wants to ensure the seriousness of Initial Coin Offerings, cryptocurrency futures trading, and other crypto-securities or quasi-securities trading.

Addressing the rising frauds with the unregulated initial coin offering-based (ICO) fundraising technique, Apple is now only allowing apps from established banks, securities firms, futures commission merchants ("FCM"), or other approved financial institutions.

Apple has been pushing extension developers toward Safari App Extensions for a few years now.

Speaking to CCN at the time, Jaxx CEO Anthony Di Iorio revealed Apple had stuck to approving a select six cryptocurrencies, namely: Bitcoin, Ethereum, Dogecoin, Litecoin, Ripple and the then DAO token.

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Notably, Apple announced it will be phasing out support for legacy Safari Extensions available for download outside of the company's official Safari Extensions Gallery.

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

After the cryptominer was found to contain buggy code that made CPU usage on users devices spike, Apple pulled Calendar 2 from the macOS App Store.

This is the first time Apple has offered a clear stance on its policy on cryptocurrency apps. The company took this step after hidden cryptocurrency mining has become the most popular cybercrime trend among malware developers this past year.

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Apple further disallowed cryptocurrency apps that reward users for completing tasks such as downloading other apps or coaxing other users to do the same or to make social media posts.

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