Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Apple Revises Crypto App Rules for Its Store; Makes Developers Happy

Cryptocurrency Jun 10, 2018 07:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Apple Revises Crypto App Rules for Its Store; Makes Developers Happy
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio

Apple (NASDAQ:AAPL) revises cryptocurrency Apps in its App store, and it’s recently taken steps to appease those in the space.

News of the revisions started to go viral over the weekend.

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 cryptos.

A group called The Developers Union requested new guidelines for App developers. It seems their requests may be paying off.

Why the guideline changes?

In announcing these guidelines, Apple noted how Apps are “changing the world, enriching people’s lives, and enabling developers to innovate like never before. As a result, the App Store has grown into an ecosystem for millions of developers and more than a billion users”.

In the announcement, Apple stated:

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.

List of new guidelines

The new guidelines deal with everything from ICOs to mining.

For example, for ICOs, Apple’s guidelines call for Apps that they facilitate from them to come from established banks, securities firms, future commission merchants and other approved financial institutions. This policy also applies to crypto futures trading, and other crypto securities or quasi securities trading firms.

As far as mining is concerned, Apple specifically states that Apps can’t mine for cryptos “unless the processing is performed off device (e.g. cloud-based mining).”

For the rest of the guidelines, Apple states the following:

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.

You’ve heard it said often, likely, that mining requires a lot of electricity use. Apple wants developers to design their Apps to use power efficiently.

It states that developers doing mining activities should make sure their Apps didn’t:

- rapidly drain batteries,

- generate excessive heat, or put unnecessary strain on device resources.

- include any third party advertisements displayed within them

Apple’s history with cryptos

These changes come on the heels of Apple, about five years ago, starting to make some changes, but some developers were still not happy. The company even reportedly asked companies to remove cryptos from their Apps.

The fear is how easy some developers can create Apps simply used for mining.

These days there are a lot of cryptocurrency Applications and more added every day, but the latest rules may affect a few Apps already featured on Apple’s App Store, and cryptocurrency Applications looking to be published in the future.

The Developers Union

A group called The Developers Union is thought to have spurred these new latest guidelines.

Here is a sampling of the letter they sent to Apple:

We believe that people who create great software should be able to make a living doing it. So we created The Developers Union to advocate for sustainability in the App Store.

Today, we are asking Apple to publicly commit — by the tenth anniversary of the App Store this July — to allowing free trials for all Apps in the App Stores before July 2019. After that, we'll start advocating for a more reasonable revenue cut and other community-driven, developer-friendly changes.

This article appeared first on Cryptovest
Apple Revises Crypto App Rules for Its Store; Makes Developers Happy

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email