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Apple bans cryptocurrency mining on its devices

Apple has tightened its developer guidelines and banned cryp..

Apple has tightened its developer guidelines and banned cryptocurrency mining apps from being used on the company's devices.

The updated guidelines are designed to remove apps that cause batteries to be drained, the device to become abnormally hot or damage the hardware in any way.

The developer guidelines say: “Design your app to use power efficiently. Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources.”

“Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining.”

Although it will not be possible to install software to mine for cryptocurrencies through your iPhone or iPad, which is an extremely inefficient process considering crypto mining's enormous power usage, cryptocurrency trading of approved assets is still allowed.

Read more: Argo aims to become first main market-listed crypto-miner

Apple said: “Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions.”

“Apps facilitating Initial Coin Offerings, cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants, or other approved financial institutions and must comply with all applicable law.”

Cryptocurrency mining involves computers solving complex mathematical problems and then being rewarded in the form of coins. The process requires colossal amounts of electricity to function which has become a global cause for concern.

Over the weekend, cryptos took a significant hit after the South Korean cryptocurrency exchange Coinrail revealed that it had been hacked and 30 per cent of its coins had been stolen.

Bitcoin was particularly affected as the value plunged to around $6,700 (£5,006) from around $7,200 earlier on Sunday, leaving bitcoin in an even worse position than what it has been in so far this year.

Read more: Quebec halts energy approvals for crypto miners after surge in applications

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