Apple blocked developers from harvesting contacts last week
12 June, 2018, 02:03
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". This includes the production of wallets and the production of apps for cloud-based mining (no apps will be permitted that allow local mining on iPhones specifically).
This is the first time Apple has offered a clear stance on its policy on cryptocurrency apps. Bitcoin is now sitting at around $6,750, while the global crypto market lost an estimated $42 billion in value as a result of the hack.
The iPhone isn't a great cryptocurrency miner, especially compared to special mining machines, but that doesn't mean that a surreptitious app couldn't mine tokens like Monero in the background.
Apple also has an existing section addressing cryptocurrency apps on its App Store that's been in place since about 2014. Any apps that facilitate ICOs, futures trading or other securities must be provided by established banks, securities firms and futures commission merchants (FCMs).
Six months after crypto exchange Coinbase's app became the number one trending app on the App Store, Apple has now apps to provide wallet services under a caveat. 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. These conditions extend to apps providing cryptocurrency futures trading, and other crypto-securities or quasi-securities trading.
Finally, the world's most valuable company has also mandated that apps do not offer cryptocurrency as rewards to users for completing tasks.