Apple has revised its cryptocurrency Apps guidelines for its App store, and it has recently taken steps to appease those in that space. A Cryptocurrency news site noted that "One of the things that Apple is known for is its strict rules when it comes to any of the Apps it includes in its App Store. This is especially the case for Apps related to cryptocurrencies. A group called The Developers Union requested new guidelines for App developers. It appears that their requests may have paid off.
Apple announcement In-Part
"Whether you are a first time developer or a large team of experienced programmers, we are excited that you are creating Apps for the App Store and want to help you understand our guidelines so you can be confident your App will get through the review process quickly.
Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself. Cryptocurrency Apps may not offer currency for completing tasks, such as downloading other Apps, encouraging other users to download, posting to social networks, etc."
Here are a few of the updates to Apple's developer guideline relating to Cryptocurrencies:
Under Hardware Compatibility:
"2.4.2 Design your app to use power efficiently. Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources. Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining."
Under Cryptocurrencies 3.1.5 (b):
(i) Wallets: Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization.
(ii) Mining: Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).
(iii) Exchanges: Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself.
(iv) Initial Coin Offerings: 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.
(v) Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc.
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