Over the weekend new rules and regulations have been released in the updated Apple guidelines for it’s App Store. Amongst other updates, the guidelines feature tightened regulations for apps that incorporate cryptocurrency or blockchain technology.
Developers wishing to get their apps featured on the App Store will need to adhere to certain rules. The key points relating to cryptocurrencies are as follows:
– Apps that facilitate virtual currency storage must be offered by developers that are enrolled as an organization.
– Apps may not mine for cryptocurrencies unless performed off the device (cloud-based).
– Apps can only facilitate transactions of an exchange if they are offered by the exchange itself.
– Apps facilitating functions related to ICO’s must come from established banks or similar financial institutions and comply with applicable laws.
– Apps may not offer cryptocurrency in exchange for tasks such as downloading apps or posting on social media.
With regard to mining and unnecessary electricity consumption, it goes on to state that developers doing mining activities should ensure their apps don’t rapidly drain batteries, generate excessive heat or put unnecessary strain on a device’s resources.
A large reason for the updates came due to a call by The Developers Union, a group created to bring developers together and focus on issues affecting the community. In a letter to Apple, they called for more clear guidelines and a commitment by Apple to allow for free trials of apps.
Apple responded with the new guidelines and a notice stating:
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.”
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