Home
Apps
Apps News
Apple Allows 'Approved' Bitcoin Style Virtual Currencies in Apps

Apple Allows 'Approved' Bitcoin-Style Virtual Currencies in Apps 1x3759

By Reuters | Updated: 3 June 2014 13:13 IST

ment

Apple Inc will let software developers include virtual-currency transactions in their applications, paving the way for new forms of money to appear on iPhones and iPads.

"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," Apple said in an update to its App Store review guidelines. 4u5b

(Also see: Apple Unveils OS X Yosemite With New Continuity Features and More)

Apple did not provide details on the approved virtual currencies.

Apple spokeswoman Kristin Huguet did not immediately respond to an email seeking more information.

Virtual currencies are not backed by any government or central bank and are bought and sold on a peer-to-peer network independent of central control.

(Also see: Apple Unveils HealthKit Platform for Mobile-Based Health Apps)

Several U.S. state regulators are looking to toughen rules on the use of the controversial cryptocurrency and have over the last few months warned investors to consider the risks associated with virtual currencies before trading in them.

(Also see: 10 Big Changes in OS X Yosemite)

Zynga Inc in accepting the digital currency.

© Thomson Reuters 2014

Cryptocurrency Prices across Indian exchanges

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.