Apple's new virtual currency policy is still vague leaving many to wonder if anything has really changed? Could Apple's continued rejection of virtual currencies enable Android to gain market share?
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Apple updates the App Store virtual currency policy
While it is intriguing that additional information regarding the use of virtual currencies was added, it doesn’t necessarily mean acceptance. In fact, it might actually mean more pronounced and detailed rejection. One new addendum commonly being cited is the rule under “purchasing and currencies”, specifically rule 11.17. It states: “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 wording of this means that Apple still has authority to reject bitcoin apps. And bitcoin wallets, by Apple, are generally rejected when they include sending functionality. The idea of “approved virtual currencies” suggests that Apple is keeping tabs on such currencies in order to permit specific use. Also, the use of the word “compliance”, and the regulatory situation many bitcoin companies operate in, many of them without regulatory approval, affords Apple additional scrutiny.
