Cryptocurrency App Rules updated by Apple’s App Store

Apple has reviewed its App Store policies relatively to crypto applications making rules a bit stricter, applying them to wallets, exchanges, and ICO platforms
09 June 2018   1670

The Apple App Store is a sought-after application marketplace which offers over 783,000 gaming apps, and 2.3 million non-gaming apps. Recently the App Store changed its guidelines towards cryptocurrency applications that can be downloaded through the marketplace.

According to the new rules, cryptocurrency applications must stick to the following description criteria that include wallets, ICOs,  cloud mining platforms and exchanges.  Mining apps using an iPhone’s chipset to mine digital currencies are strictly forbidden and are only let if the software is processing the mining off the device (for example,  cloud-based mining).

Apple’s revised rules claimed that Wallet Apps can be used as virtual currency storage, provided they are suggested by developers registered as an organization. Exchange Apps might support cryptocurrency transactions or transmissions of an approved exchange, provided they are proposed by the exchange itself.

Initial Coin Offering Apps facilitating Initial Coin Offerings (“ICOs”), cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants (“FCM”), or other approved financial institutions and must comply with all applicable law.
Apple App Store
Revised Cryptocurrency Rules

The company removed all Bitcoin-related applications 4 years ago, and 2 years ago it was quite steady relatively to altcoins when it asked firms to remove digital assets like dash off their apps. Presently there are a lot of cryptocurrency applications and more added every day, but the freshly rules may exert a few apps already featured on Apple’s App Store, and cryptocurrency applications looking to be issued in the future.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   297

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.