Apple is the Latest to Ban Mining of Cryptocurrency on iPhones

First it was Facebook, then Google and now it’s Apple’s turn to ban mining of cryptocurrency on iPhone and iPad. Apple has introduced a new section on cryptocurrency in its guidelines on App Store that apply to iOS, macOS, watchOS, and tvOS app.

"Apps, including any third party advertisements displayed within them, may not run unrelated background processes such as cryptocurrency mining," said the guidelines.

Also Read: India’s Rs 19-Crore Bitcoin Theft: How Secure Are Your Cryptos?

Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organisation.

"In addition, apps may not mine directly for cryptocurrencies, unless the mining is performed in the Cloud or otherwise off-device," it stated.

Apps facilitating Initial Coin Offerings (ICOs) must come from "established banks, securities firms, futures commission merchants ('FCM'), or other approved financial institutions".

Also Read: What is an ICO, or Initial Coin Offering?

Cryptocurrency-related apps "may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks", the guidelines stated.

As you might be aware, mining of cryptocurrency has become the focal point for hackers, who end up using others’ devices to mine their own virtual money. It’s called cryptojacking.

Also Read: Bitcoin’s Growth Stirs Fear of Bursting Crypto-Currency Bubble

Apple in March removed "Calendar 2" app from the Mac App Store after it started mining cryptocurrency on devices in exchange for premium features.

Facebook and Google have already banned cryptocurrency, token sales and Initial Coin Offerings (ICO) advertisements on their platforms. Twitter has also started blocking cryptocurrency-related ads on its platform.

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