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Wednesday 4 June 2014

Stand on Bitcoin Applications Now Clarified by Apple's Policy Revision


“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,” stated under Section 11.7 titled ‘Purchasing and Currencies’ of the updated guidelines.

Apple has unconstrained a policy update that overtly spells out the prospective of Bitcoin transactions to take place within the company’s network.

The App Store Review Guidelines highlighted Apple’s reception of Bitcoin apps to run on its stand so long as they are authorized to operate in all of the territories they provide services.

The calculation of this policy gives new optimism for developers because the Cupertino-based company has as a final point expressed its eagerness toward changing its restraining attitude against Bitcoin and alternative cryptocurrencies.

However, while this is encouraging news in total, some speculators believe Apple will not agree to Bitcoin applications that transport the currency in the App Store right away. They reckon Bitcoin is yet to be accepted as legal by any region, so it makes it tricky to state whether or not Bitcoin transactions will instantaneously find a position on this platform.

Nevertheless, Bitcoin apps that do not require currency transport should not have any trouble in agreement with the App Store guidelines.

The addition of this policy is considered as a step forward for Apple, especially after the series of adverse actions it has taken toward virtual currencies in the past few years.

It can be recalled that Apple removed wallet apps Blockchain and BitPak from the App Store in early 2012, with the Blockchain app reinstated after. However, the company pulled from its store major Bitcoin wallet apps Coinbase and Blockchain late last year, which later resulted in February video operation that featured Apple devices being destroyed in public.


The Apple policy update is analytical of what is to come in the futureand how this game changer will work to the benefit of the prosperous industries of the virtual currency such as Bitcoin trading.

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