Apple Updates App Store to Permit Crypto Trading

On June 6, 2017, Apple updated its App Store Review Guidelines to explicitly permit applications that facilitated cryptocurrency-to-cryptocurrency trading, marking a significant policy shift for the world's most valuable company. Previously, Apple's policies around cryptocurrency apps had been ambiguous and restrictive, with many Bitcoin wallet and trading apps being rejected or removed from the App Store.

The updated guidelines clarified that apps could facilitate virtual currency trading as long as they complied with all applicable laws in the regions where they operated. This policy change removed a major barrier for cryptocurrency adoption among iPhone users, who represented a substantial and generally affluent demographic.

Apple's policy change was significant because it signaled mainstream corporate acceptance of cryptocurrency and removed obstacles that had frustrated the Bitcoin community for years. The iPhone's dominant position in many wealthy markets meant that Apple's policies had outsized influence on cryptocurrency accessibility.

Cryptocurrency wallet developers and exchanges could now build iOS apps with confidence that they wouldn't be arbitrarily rejected or removed, allowing them to invest in high-quality mobile experiences. The policy change likely reflected Apple's recognition that cryptocurrency had achieved sufficient legitimacy and user demand that excluding these apps was becoming untenable.

The timing also coincided with Bitcoin's price surge and growing mainstream interest, making cryptocurrency apps increasingly important for Apple's ecosystem competitiveness.The clearer guidelines would lead to a flourishing of cryptocurrency apps on iOS throughout 2017 and beyond.