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

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.