With the newly updated Review Guidelines Apple (NASDAQ: AAPL) has announced its banning all mining applications across the range of its platforms. New regulations specifically target background mining activities and it’s now been clearly stated that only cloud mining will be allowed. The company sights battery drain as the main cause for banning all mining activities.
The rules will apply to all company products, which make use of the App Store such as the iPhone, Mac, iWatch, and Apple TV. Regulations related to cryptocurrencies were explained in five points:
- Apps can be used as crypto wallets IF developers are enrolled in the system as an organization
- On device mining is prohibited except for cloud-based mining
- Crypto transactions via approved exchanges will be allowed IF Applications are offered by Exchanges
- ICOs, Crypto futures trading, securities trading is allowed IF applications are offered by legally approved banks on financial institutions.
- No crypto rewards (for sharing, inviting friends, promoting app, etc.) in Cryptocurrency apps
It is not clear when and which applications will be removed due to background mining activity. However, the change is expected to impact Apple’s crypto app sphere drastically once these regulations are fully imposed.
It's also worth noting that the move will only impact the applications downloaded directly from the App Store, but the jailbroken devices remain out of companies control. However, mining on Apples gadgets was never regarded as efficient due to the hardware set up of the devices.
By Nadya Astam