Apple has recently restructured the App Store guidelines especially for regular cryptocurrency apps with an intention to line up the emerging trends and synchronize them within the technology world.

As per modified article 2.4.2 under ‘Hardware Compatibility’ section, the apps developed with the objective of mining for cryptocurrency using iPhone resources are not allowed.

The Cryptocurrency section has also been updated, with the new guidelines now stating that “apps may not mine for cryptocurrencies unless the processing is performed off the device (e.g. cloud-based mining).”

If mining of cryptocurrencies is conducted, the apps that are steered in the App Store can only use cloud power, should not affect iPhone performance in any manner.

"As per 2.4.2 of App Store guidelines, 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,” the updated policy reads to be precise.

While 3.1.5 (b)(iv) emphasizes on Initial Coin Offerings, wherein it states that Apps facilitating Initial Coin Offerings (“ICOs”), cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants (“FCM”), or other approved financial institutions and must comply with all applicable law.

The updated policy states that cryptocurrency apps that are published in the App Store must not encourage users to perform various tasks in exchange for crypto coins. Such apps frequently may need to be downloaded by users, attend feedbacks, or even post messages on their social accounts and get paid in return. Such apps are no longer allowed and those in the store violating the guidelines will be removed as per the new guidelines. Apple has also stated guidelines for ICOs that only well-known organizations are permitted to publish apps offering such services in the App Store.

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