Not so long ago, the world-famous technical leader Apple adjusted its App Store policy, which is directly related to crypto-currency applications that can be found on the platform market. Innovations are more rigorous and suitable to interchange operations, crypto-currency wallets, and platforms, which in turn facilitates the Initial Coin Offerings (ICOs).
New Cryptocurrency Rules for Apple’s App Store
Apple App Store – is the most widely employed application market, in which you can find both gaming apps, which are about 783 000 and non-game ones (about 2.3 million). More recently, the App Store has made a number of changes to the recommendations in relation to crypto-currency apps, which can be received via the market. This news came after the ‘Developers Union’ during which there were attempts to publish trial free applications by a group of software developers who eventually won the promotion and received support from Apple.
In the innovations, it is clearly defined that crypto-currency applications are developed exclusively on the basis of certain stringent conditions, comprising exchanges, ICOs, wallets, and platforms for cloud computing. Mining apps, based on the use of an iPhone’s chipset for better mining the digital currencies, are in a state of total taboo and can only be resolved under the conditions that the software carries out this algorithm of actions from the device (for example, based on cloud computing).
“Such Wallet Apps greatly simplify the various manipulations and reliable storage of virtual currencies, but only in cases when they are offered by proven developers who have been pre-registered as a corporation,” clarifies the amended regulations of Apple. “Moreover, Exchange Apps contribute to lightweight procedures aimed at transactional actions and the direct transfer of crypto-currency, with mutual affirmation for the exchange process, in cases when the trade offers them.”
“One of the fundamental rules is the observance of the Initial Coin Offering Apps, which imply facilitating Initial Coin Offerings (“ICOs”), including commercial actions with futures on cryptocurrency, and related crypto-currency manipulations or quasi-securities. All data must be received only from trusted banks, futures commission merchants (“FCM”), securities firms or other reliable financial institutions that must comply with all applicable innovations as a matter of priority.”
Back to Apple’s History and Cryptocurrency Apps’ Strict Rules
Finally, the apps that are currently in the App Store fall under the direct impact of the fifth innovation. The manual says that it puts a ban on applications in which currency is seen as a tool for launching certain tasks.
“Cryptocurrency applications also have the function of not proposing the use of currency for carrying out activities, such as installing other applications, attracting other users to install, publishing on social networks, and so on,” – underlines the last innovation.
The world-famous fact that the basic rules of the Apple App Store, having a direct impact on crypto-currencies, are much more stringent than in other markets, such as Google Play. In 2014, the company took drastic measures, which resulted in the deletion of all apps connected with Bitcoin. In addition, in 2016, it showed special determination in relation to the altcoins, in particular, when it influenced the companies and asked to remove digital assets (such actions also included disabling of their apps). Today, there are many crypto-currency apps and their number grows casual. However, recent innovations can influence several applications that can be found on Apple’s App Store nowadays, as well as the apps of crypto-currency, which will be created in the nearest future.