Apple Bans Cryptocurrency Mining On All Devices

Attendees wait for an announcement of new products at the Apple Worldwide Developers Conference in San Jose California

After Google, Facebook, and Twitter, now it's time for Apple to join its Silicon Valley counterparts in restricting the crypto industry. "Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization", the policy states.

As bitcoin prices peaked near $20,000 in December 2017, Apple unveiled a new section of guidelines specific to cryptocurrencies and ICOs on December 20. Apps also can not offer cryptocurrencies as a reward for performing certain tasks such as downloading certain apps, or posting messages on social media.

"Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining)", Apple notes.

This step was taken by the firm considering the degradation of device performance and battery life due to mining as in the performance section of the guidelines Apple noted: "Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources".

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Since the App Store is virtually the only place to acquire software for iPhones, iPads, iPod touches, Apple TVs, and Apple Watches, Apple's decision will effectively end crypto mining on those devices.

The ban applies for apps designed explicitly with mining operations in mind.

Mac and iOS users haven't been targeted as much as web servers and Windows users, who've taken the brunt of most coinmining malware campaigns, but Apple has seen at least one incident in March when a cryptocurrency miner slipped on the Mac App Store inside the Calendar 2 app by Qbix.

Apple additionally wants to ensure the seriousness of Initial Coin Offerings, cryptocurrency futures trading, and other crypto-securities or quasi-securities trading. Exchanges are fine, too, as long as they are the ones offering transactions or transmissions of currency. Finally, cryptocurrency apps can't offer currency as a reward for downloading other apps, posting to social networks or encouraging other users to download apps.

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