Apple Publishes Revised Cryptocurrency, ICO Guidelines for App Store

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Apple is cracking down on cryptocurrency activity on its devices. Apps also can not offer cryptocurrencies as a reward for performing certain tasks such as downloading certain apps, or posting messages on social media. Under the mandated rules.

To keep its hardware, think iPhones, from draining battery or computing power, Apple has now forbid app developers from including any 3 party advertisements that run cryptocurrency mining.

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

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

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.

For those interested in cryptocurrencies, don't expect to do any mining via apps installed on the iPhone.

Apple additionally wants to ensure the seriousness of Initial Coin Offerings, cryptocurrency futures trading, and other crypto-securities or quasi-securities trading. Initial offerings including futures investments, or other securities dealing with cryptocurrencies must be offered by an established bank, securities firm or exchange. Exchanges can offer fully-featured apps offering trading abilities, as long as the apps are issued by the exchanges themselves and not third parties. 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". Finally, cryptocurrency apps can't offer currency as a reward for downloading other apps, posting to social networks or encouraging other users to download apps.

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