Apple will allow Bitcoin and other virtual currency apps if they comply with local laws

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Apple has finally confirmed its position on Bitcoin and other virtual currencies after updating its App Store Review Guidelines with the following new stipulation, as noticed by TechCrunch:

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 company had previously made no public statements about virtual currencies, despite pulling all transaction-based apps from the App Store — including popular services Blockchain and Coinbase.

It isn’t clear whether apps will be permissible in some countries where Bitcoin is legal, but not others where its status is less certain — we’re likely only to find answers as the rule is tested out by developers submitting new apps. So while there is still some uncertainty in its application, there is at least a clearer guideline governing Apple’s actions.

➤ Apple Gets More Explicit About Bitcoin Apps [TechCrunch]

Thumbnail image via Glen Cooper / Flickr

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