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Apple's App Store Guidelines Now Allow for 'Approved' Virtual Currencies in Apps

app_store_icon_ios_7 Apple has 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, reports Reuters.
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 having 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.

Apple's actions 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 behind Bitcoin-related apps that their 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 is now possible that apps like Gliph could indefinitely allow for virtual currencies like Bitcoin to be traded. While it is ultimately up to Apple as what is allowed in its apps, the company's updated policy marks a completely new position on the issue of virtual currencies.

Top Rated Comments

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13 weeks ago

Insane. Bitcoin is backed by nothing.


Well it's not like any other FIAT currency is backed by gold either.
Rating: 11 Votes
13 weeks ago

Been on the btc bandwagon for 1.5years now and was not happy with Apple's anti-bitcoin stance. Blockchain-app has been doing ok for my irl-purchases, but with this I expect some nice features in future apps. Will be interesting to see how it ends up, Apple has to know that bitcoin might eat some of their 30% markup, but being left out might suck even more...


There was never an anti-bitcoin stance, you've just been to r/bitcoin too much.
Rating: 6 Votes
13 weeks ago

Insane. Bitcoin is backed by nothing.


It's backed by something
Rating: 5 Votes
13 weeks ago

There should be some funny names for currencies soon


It'll be a good day when we can buy apps with Dogecoin :cool:
Rating: 4 Votes
13 weeks ago

Trust. No serious banker trusts Bitcoin.


Trust. No serious people trust bankers.
Rating: 4 Votes
13 weeks ago

Insane. Bitcoin is backed by nothing.


Bitcoin is backed by encryption and the laws of mathematics, in the same way that gold is backed by nothing but chemistry.

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Bitcoin being backed by nothing but math is a feature. This makes it superior to something like your PayPal balance, which is backed by one selfish company with an complicated terms of service.
Rating: 3 Votes
13 weeks ago
There should be some funny names for currencies soon
Rating: 3 Votes
13 weeks ago

Well it's not like any other FIAT currency is backed by gold either.


Trust. No serious banker trusts Bitcoin.
Rating: 3 Votes
13 weeks ago
Insane. Bitcoin is backed by nothing.
Rating: 3 Votes
13 weeks ago

FIAT currency is backed by the total production of your countries economy, i.e., it's GDP (gross domestic product). Bitcoin is backed by our collective imaginations - it's pure speculation, with 1/2 of all Bitcoins owned by less than 1,000 people. Somebody is making money on Bitcoins - but as in a casino, everyone else loses.

http://stephenjohnjohnston.com/2014/05/30/bitcoin-tulips/ (http://stephenjohnjohnston.com/2014/05/30/bitcoin-tulips/)


You parallel with the Casino industry and BitCoin as a currency is baseless. As is your assumption that everybody loses.
Rating: 3 Votes

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