Why is Apple hostile to cryptocurrencies?

Apple has always been hostile to applications dedicated to cryptocurrency. On its App Store, the American firm imposes a battery of very strict rules on crypto services available on iOS under the pretext of protecting users. But for Coinbase, the iPhone maker mainly seeks to protect its own financial interests. And Apple is not alone in the case. Explanations.

Coinbase accuses Apple of slowing down cryptocurrency adoption

On September 11, 2020, Brian Armstrong, CEO of Coinbase , posted a broad rant against Apple on his Twitter account. The founder of the exchange accuses the smartphone maker of wanting to curb the adoption of cryptocurrencies .

For the leader, the smartphone giant is preventing application developers, as well as iPhone and iPad users, from generating money with cryptocurrencies for no good reason.

“Why would Apple want to prevent people from making money during a recession? They seem to disagree with it if people go through Crypto Bank, ”Armstrong regrets.

The CEO of Coinbase especially regrets that Apple prohibits users of crypto applications from generating crypto-assets with their devices . Apple thus prohibits applications that mine cryptocurrency by relying on the power of the iPhone processor. To be accepted on the App Store, the application must perform the calculations necessary for cryptocurrency mining on remote computers.

A few weeks earlier, Brian Armstrong already regretted that Apple was blocking decentralized applications (decentralized applications in English, abbreviated as dApps) from the App Store in another thread on Twitter. To comply with Apple’s policy on its store, Coinbase has also had to remove the decentralized applications browser (dApps) from Coinbase Wallet . Based on a blockchain, dApps are resistant to censorship. They offer a multitude of different offers to people interested in cryptocurrencies. For example, services like Maker allow you to borrow stablecoins .

“Apple told us that we can’t provide a list of decentralized apps (which are really just websites) to iOS users,” the Coinbase executive continued.

To better understand the bans put in place by Apple, Coinbase called the Californian giant to account. The firm’s response was terse: “Your application offers cryptocurrency transactions in software that is not integrated into the application, which is not appropriate for the App Store” .

Apple visibly refuses that iPhone users are relayed to services not included in iOS . Likewise, the firm prevents its users from installing applications outside of its App Store. True to its reputation, the firm founded by Steve Jobs seeks to control the user experience on its devices from A to Z.

The restrictions imposed by the App Store

In fact, Apple has set up ultra rigid regulations for developers wishing to offer applications on the App Store. Thus, Apple notably prohibits applications which are not finalized, which incite hatred, which do not sufficiently detail their operation or their usefulness or which request access to user data without a valid reason. Finally, the firm also excludes applications that highlight terms such as „free“ in a too ostentatious way. Apple believes that these terms could be used to mislead iOS users.

In order to protect its users from viruses, scams, or poor quality services, Apple requires developers to submit their apps to a team of moderators . These will ensure that all the rules of the App Store are respected. To verify that the submission is not from automated software, Apple then assigns an employee to contact the developers by phone.

“When users install an app from the App Store, they want to be sure that it is safe to do so, that the app does not contain shocking or offensive content, will damage their device, and cause no physical damage when in use, ”Apple argues in the list of rules imposed on developers.

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