Apple has moved to put a stop to any crypto-mining apps that might be used on its mobile products.
In a recent update, the personal computing company expanded its initial guidelines on cryptocurrencies. Before, the guidelines specified apps facilitating cryptocurrency exchange and/or initial coin offerings (ICOs) must comply with all applicable state and federal laws.
Now, the guidelines specify more than that. In five bullet points, the guidelines run through Apple's policy on wallets, mining, exchanges, ICOs, and rewards that take the form of cryptocurrency.
Most notable among them: the updated policy bars any apps used on an Apple product from mining for cryptocurrencies unless performed "off device". The reasoning behind this change seems to be connected to Apple's policies on hardware compatibility, where it reads:
"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."
However, as previously reported, comparisons of energy consumption as it relates to mining efficiency are evolving in light of expanding capabilities and capacities –thereby raising the concern over the precedent this ban sets for current and future mining activity.
The updates to Apple's official policy on cryptocurrency also come in light of pre-emptive measures taken by the company in prior years to clamp down on app development facilitating cryptocurrency trade.
Back in 2014, Apple pulled an app by Blockchain that was geared towards bitcoin trading and storage on Apple devices. The year prior, another bitcoin wallet app by a cryptocurrency exchange company known as Coinbase was also de-listed. Apps for those startups have since returned to Apple's online store.
iPhone image via Shutterstock.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin MiningApplewallet app
Binance Secures New Funding From Vertex Ventures
Correction: This article has been corrected to note that Temasek Holdings did not play a role in the investment, as was initially reported. Vertex Ventures is a limited partner with Temasek.
Bitfinex Is Publishing Data for a Tether Market That Doesn't Exist
Pop over to CoinMarketCap and check Bitfinex's page.
You'll see that the trading pair with the second-highest volume on the exchange over the past 24 hours – nearly $48 million at the time of writi
Coinbase Approved to Offer Crypto Custody Services in New York
Coinbase has received approval from New York regulators to form a qualified custodial firm for cryptocurrencies.
The New York Department of Financial Services (NYDFS) said Tuesday that it granted C
Elon Musk Sparks Speculation With Cryptic Crypto Tweet
Elon Musk, the founder of SpaceX and Tesla, just made a mysterious tweet about bitcoin that's whipping up speculation across social media and the cryptocurrency community that it may be more than just
Coinbase Adds Its First Stablecoin Tied to the US Dollar
Crypto exchange Coinbase announced support for the Circle-issued stablecoin Tuesday.
In a blog post, the exchange said U.S. customers outside the state of New York can now buy, sell, send and recei
Australian Government Agency Says Blockchain 'Interesting' But Hyped
The Australian government agency dedicated to streamlining the country's IT operations has called blockchain "interesting," but said it is hyped by firms working with the tech.
The chief digital of
Japan's SBI Group Is Building a New Crypto Exchange Wallet
Japanese financial services giant SBI Group has partnered with a blockchain security startup to develop a digital wallet for its recently launched cryptorrency exchange.
The Denmark-based startup,
New SEC Commissioner Briefed on Bitcoin ETF in October Meeting
The newest commissioner with the U.S. Securities and Exchange Commission met with representatives from money manager VanEck and blockchain startup SolidX earlier this month to discuss a bitcoin-based