What’s going on with Apple and Bitcoin?
Like many online platforms, Apple has had to make some decisions about use of the controversial virtual currency known as Bitcoin (and note there are others on the horizon).
In a recent blog post for TechCrunch, writer and Apple/Bitcoin watcher Matthew Panzarino noted that Apple has added a new rule under its App Store Review guidelines that specifically mentions Bitcoin.
It’s section 11.17 and it reads: “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.”
“This section explicitly spells out Apple’s attitude toward virtual currencies,” writes Panzarino. “It’s exactly what we published last year: They’ll accept apps that handle bitcoin transmission as long as they comply with all state and federal laws.”
Panzarino said that a case in point is gambling.
“As to how Apple might handle Bitcoin transactions in apps in the future, look to how it handles gambling apps, also covered in the App Store rules,” he says. “For states or countries that allow gambling — like Nevada or the UK — Apple allows apps to use geo-fencing to restrict activities to those regions. A similar system could be put in place to allow Bitcoin transactions in places where it has been deemed ‘legal’ by a government entity.”
Panzarino suggests that it’s a wise decision for Apple to get a little more definitive in its treatment of Bitcoin, and has other observations about the possible future of the currency and its use on Apple.
To read Panzarino’s post in its entirety, click here.
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