1. Akshay Masand's Avatar


    Apple has recently updated its App Store review guidelines to allow for “approved” virtual currencies in apps, paving the way for new types of currencies to be traded and maintained on iOS devices according to Reuters. The following was mentioned regarding the matter:

    11.17 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.
    The move is interesting given Apple’s past tendencies to remove and deny apps that promote virtual currencies, namely those that had anything to do with the popular Bitcoin currency. Last year, Apple notably required the developers behind private messaging app, Gliph, to remove the app’s Bitcoin sending capabilities or face deletion from the App Store. The Cupertino California company’s action on Gliph also shed light on the company’s overall relationship with Bitcoin apps.

    It was reported that Apple had told a number of developers that Bitcoin-related apps contained content “that is not legal in all the locations in which the app is available,” and were non-compliant with Apple’s policies. However, with Apple’s new App Store guidelines on the matter, it’s now possible that apps such as Gliph could indefinitely allow for virtual currencies to be traded. Although it’s ultimately up to Apple as to what is allowed in its apps, the company’s new policy marks a completely new position on of virtual currencies.

    Source: Apple via Reuters

    Twitter: @AkshayMasand
    2014-06-04 12:46 AM
  2. bigboyz's Avatar
    Ahh..virtual currency, our monetary future. Not sure if I like this idea or not.
    2014-06-04 05:06 PM
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