APPLE HAS ALLOWED a Bitcoin trading app to appear at the iTunes App Store, changing a long held 'no digital currency' rule.
We reported in February that Apple was performing a sweep on Bitcoin related apps and that this was a policy decision. Then Apple was not sure how to deal with Bitcoin, but recently it updated its policies to permit digital currency apps.
The first app to get the benefit of this policy change is Coinpocket, a Bitcoin wallet that tipped up at Apple's iTunes App Store on Sunday. It is a free app, reviews are mixed and run from one to five stars.
We have asked Apple to comment on its policy regarding digital currency apps and are waiting for its response.
Apple's updated App Store guidelines include a note about virtual currencies saying that Apple will allow related apps in areas where the coins are legitimate.
"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," it said.
When things were less rosy for the Bitcoin companies, Blockchain, one of the app developers that fell victim to the earlier Apple sweep, accused the Cupertino company of underhandedness.
"The Blockchain application is the same one that has been on the App Store for [two] years, with more than 120,000 downloads, no customer complaints, and a broad user base. The only thing that has changed is that Bitcoin has become competitive to Apple's own payment system," it said
"By removing the Blockchain app, the only Bitcoin wallet application on the App store, Apple has eliminated competition using their monopolistic position in the market in a heavy handed manner." µ