Apple: Don't Mine Cryptocurrencies on an iPhone

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

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

Though there are multiple changes to the guidelines concerning this issue, the company seems to be putting a special focus on cracking down on apps used for cryptocurrency mining.

A man walks past an electric board showing exchange rates of various cryptocurrencies including Bitcoin (top L) at a cryptocurrencies exchange in Seoul, South Korea December 13, 2017.

Notably, Apple said that it will not block the mining apps that mine outside of the device, like cloud-based mining. But the new App Store Review Guidelines prohibit developers from making databases with information taken from iPhone owners' contacts, and restrict them from sharing such a database with third parties, or selling it. The move comes at a time when 'cryptojacking', a malware attack wherein malicious attackers scrumptiously hijack a computer or a phone's computing power to mine cryptocurrencies, is a growing menace.

Apple has chose to ban cryptocurrency mining software from the company's app store.

The guidelines do allow apps that facilitate ICOs, as long as they work with established banks and follow all applicable compliance laws.

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But there's no way to go back and either block or retrieve data previously shared.

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Finally, the world's most valuable company has also mandated that apps do not offer cryptocurrency as rewards to users for completing tasks.

In a policy section dedicated to cryptocurrencies - such as Bitcoin (BTC), Ethereum (ETH), and Monero (XMR), Apple says that apps may facilitate wallet storage and transactions on approved exchanges.

And apps may not offer cryptocurrency as an incentive for taking specific actions, such as downloading other apps, posting to social media or urging others to download apps.

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