Apple bans developers from submitting cryptocurrency mining apps for iOS devices

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Apple has issued new data on data. Getty Images

The section also bans apps and any third-party ads from running "unrelated background processes, such as cryptocurrency mining".

Cryptocurrency mining is often done on the sly. Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources. The company took this step after hidden cryptocurrency mining has become the most popular cybercrime trend among malware developers this past year.

On Monday June 4, Apple expanded on those crypto-centric guidelines with several key inclusions into specific functionalities like wallet storage and mining for apps on its App Store platform. It should be noted that the upcoming smartphones such as HTC Exodus and the Sirin Finney that support Blockchain will also not be able to have power to handle cryptocurrency mining.

The iPhone isn't a great cryptocurrency miner, especially compared to special mining machines, but that doesn't mean that a surreptitious app couldn't mine tokens like Monero in the background. While you're highly unlikely to be able to mine a Bitcoin on your iPhone as it requires quite a lot of computational effort - after the recent policy update - Apple won't allow you to mine even less energy-intensive cryptocurrencies directly. Apps can help users make pay, trade, or receive cryptocurrency on an approved exchange, but the apps must be from the exchanges themselves.

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"In addition, apps may not mine directly for cryptocurrencies, unless the mining is performed in the Cloud or otherwise off-device", it stated. 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.

But it's perusing the whole situation with a careful eye, noting that Initial Coin Offerings and other investments in digital money will need to come from established banks and securities firms, and approved financial institutions.

Featured image from Shutterstock.

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