The company's guidelines related to cryptocurrency were originally released in 2014, following the app store's decision to unlist Coinbase and other digital currency apps because of what it termed an "unresolved issue". However, apps can provide cloud-based mining services. Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources.
Apple has taken steps to protect its products from malicious mining practices by adding new rules to its developer guidelines so that they now explicitly prohibit malware mining in the background of Mac and iOS Apps as reported by Mashable.
Another section of Apple's App Store review guidelines allows apps to mine for cryptocurrencies only if the process is performed off the device.
Note: Apps for trading cryptocurrencies and tracking prices will not be affected by the changes. 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. These, Apple writes, "must come from established banks, securities firms, futures commission merchants, or other approved financial institutions and must comply with all applicable law".
The promising thing here is that Apple seem very open to the idea of new apps being produced which will integrate the use of cryptocurrencies.
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Apple will allow virtual currency wallet apps, as long as they're offered by developers who are enrolled as organizations.
The new Apple Books app launches this fall, with the Book Store available in 51 countries, and free books available in 155 countries. The app even made it to number 3 in the finance category of the App Store before Apple pulled it down.
Apple is also cutting down on third-party apps providing crypto transactions on approved exchanges.
Finally, the world's most valuable company has also mandated that apps do not offer cryptocurrency as rewards to users for completing tasks.