Apple announces decision to not allow crypto mining apps in its store

Eren Sengezer FXStreet

Apple has recently updated the review guidelines for its app store and included a section for cryptocurrencies, which showed that any applications that use the device's processing power wouldn't be allowed.

"Mining: Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining)," Apple said.

Regarding the Initial Coin Offerings, Apple stated that 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.

According to the guidelines, Apple continues to allow applications that facilitate "transactions or transmissions of cryptocurrency on an approved exchange."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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