Apple Bans Cryptocurrency Mining On All Devices

Yolanda Curtis
June 12, 2018

Apple has also outlawed apps from mining cryptocurrencies on the device altogether.

It also comes as Wells Fargo joins Bank of America, Citigroup and JPMorgan Chase in banning the use of company-issued credit cards for buying cryptocurrency. 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.

"Apps, including any third-party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining", Apple said under the hardware compatibility section of its App Store policy.

Apple quickly put a stop to that, and has now updated its app guidelines to explicitly ban background currency mining ...

Apps facilitating Initial Coin Offerings (ICOs) must come from "established banks, securities firms, futures commission merchants ('FCM'), or other approved financial institutions".

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. "Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally", Twitter said.

The tech giants of the world (and probably the entire galaxy), Apple, have recently updated the rules and regulations for developers who wish to develop applications which will be available for download on the Apple App Store.

The change, which was only noticed on Monday, was likely driven by concerns over cryptocurrency mining draining device batteries.

In July 2017, Apple 'approved' Dash as a cryptocurrency.

In addition, Apple is giving its full support to cryptocurrency wallet apps, as long as they are "offered by developers enrolled as an organization".

And apps may not offer cryptocurrency as an incentive for taking specific actions, such as downloading other apps, posting to social media or urging others to download apps.

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