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Apple doesn't want you mining bitcoin on your iPhone

12 June, 2018, 08:01 | Author: Tara Roberts
  • Apple bans cryptocurrency mining

After Google, Facebook, and Twitter, now it's time for Apple to join its Silicon Valley counterparts in restricting the crypto industry.

Apple's concerns about cryptocurrency mining stem from power efficiency.

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

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.

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"These extensions are distributed through native Mac applications, and Apple says they are much more secure and lightweight", 9to5mac explains of Safari App Extensions, adding that "They don't see any web browsing details, and because they run through the native Mac app, they put much less of a strain on memory and CPU performance".

The only limitation that Apple are putting down is that no apps will be allowed that encourage payments of cryptocurrencies or the incentivisation of cryptocurrencies to people who download certain apps or advertise certain cryptocurrency-based apps. Apple's new iOS guidelines, specifically listed under section 3.15 called cryptocurrencies, ban apps from mining for Bitcoins and other virtual currencies unless it is done off-device (via the cloud). Exchanges are fine, too, as long as they are the ones offering transactions or transmissions of currency. According to the rulebook, only official apps developed by the exchange itself can provide such services.

Apple updated its App Store review guidelines last week, during the WWDC 2018 conference.

"Apps facilitating Initial Coin Offerings ("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", read the unchanged policy first unveiled in December.

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