Apple doesn't want you mining bitcoin on your iPhone

A customer stands underneath an illuminated Apple logo as he looks out the window of the Apple store located in central Sydney Australia

The latter has five subsections that further describe what apps can and cannot do in terms of cryptocurrency.

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. The rules appear to be an attempt to nip any kind of "crypto-jacking", an increasingly common scam that hijacks a small portion of a users' device to mine cryptocurrency without them realizing.

"Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources", the company stated in the paragraph banning cryptocurrency mining processes from running in the background. Apple's new iOS guidelines, specifically listed under section 3.15 called cryptocurrencies, ban apps from mining for Bitcoins and other virtual currencies unless it is done off-device (via the cloud).

In sticking with the original mandate, only mainstream banks and similar financial institutions will be allowed to develop and publish apps enabling crypto futures trading and initial coin offerings, Apple said.

Apple has previously blocked apps for supporting cryptocurrencies it disapproves of. Earlier in the year, Apple removed Calendar 2 from the Mac App Store because the app would offer mining cryptocurrency on devices in exchange for premium features.

The tech giants of the world (and probably the entire galaxy), Apple, have recently updated the rules and regulations for developers who wish to develop applications which will be available for download on the Apple App Store. On macOS, however, users will continue to be able to acquire apps outside of the Mac App Store, enabling mining and other activities to continue without Apple's seal of approval.

Similarly, Apple is also allowing apps to facilitate crypto transactions "on an approved exchange, provided they are offered by the exchange itself". The company took this step after hidden cryptocurrency mining has become the most popular cybercrime trend among malware developers this past year.

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