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Apple Store banned cryptocurrency mining apps

Apple Inc. has reconsidered its App Store policy and officially banned all cryptocurrency mining applications at the App Store, as reported by Cryptoinvest. The new restrictions also cover all software designed for ICO promotion and cryptocurrency futures and token trading developed by organizations without proper licenses.

Despite the fact that Apple was never hot on crypto mining with the use of its devices, the company had never issued any formal bans on the matter before. As a rule, mining extensions were being deleted from App Store under the pretext of their poor energy efficiency.

With cryptocurrencies becoming more and more popular, mining has turned into a new way of app monetizing regardless of the platforms they’re run on. In-built cryptocurrency mining function allows users to get access to paid content by sharing computational power of their devices with app developers instead of transferring them money. The pitfalls of such approach – including increased computing power wear down – are usually passed over in silence.

Apple is not the only tech giant to crack down on crypto mining apps. Early in April, Google announced it will start banning any cryptocurrency mining extension at its Chrome Web Store too.