Published: Tue, June 12, 2018
Electronics | By Shannon Stone

Apple bans cryptocurrency mining on iPhones and iPads

Apple bans cryptocurrency mining on iPhones and iPads

In perhaps somewhat related news, Bitcoin (and most other cryptocurrencies) have fallen almost 8% in value over the last day, following the hack of South Korean crypto exchange Coinrail over the weekend.

It's a new rule included in the latest version of Apple's App Store policies, released last week as part of the company's annual developer conference.

The Cupertino-based firm has updated its rules for publishing apps on the App Store and has specially mentioned cryptocurrency-related apps. The move comes at a time when 'cryptojacking', a malware attack wherein malicious attackers scrumptiously hijack a computer or a phone's computing power to mine cryptocurrencies, is a growing menace.

Instead, the iPhone-maker is encouraging developers to embrace its new Safari App Extensions platform which was introduced back in 2010.

"Apps may not mine for cryptocurrencies unless the processing is performed off device", the guidelines now state.

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

Apple has previously blocked apps for supporting cryptocurrencies it disapproves of.

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

In July 2017, Apple 'approved' Dash as a cryptocurrency. On macOS, however, users will continue to be able to acquire apps outside of the Mac App Store, enabling mining and other activities to continue without Apple's seal of approval. 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. In a dedicated cryptocurrency section, the company goes on to break down in more detail what is - and, crucially, is not - permissible.

Similarly, Apple is also allowing apps to facilitate crypto transactions "on an approved exchange, provided they are offered by the exchange itself".

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