Apple's new developer guidelines may allow bitcoin apps

Is Apple reversing its long-held blockade of bitcoin wallet apps? Earlier this year, the Cupertino, California-based technology behemoth effectively banned all cryptocurrency wallet apps, including those created by the most reputable companies in the bitcoin community. In most cases, Apple support simply cited a non-specific violation of its App Store guidelines.

At yesterday’s Worldwide Developer’s Conference (WWDC 2014), Apple released an updated version of its App Store Review Guidelines that specifically addresses the company’s policy for virtual currency apps.

Section 11.17: 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 release was met with near-instant excitement on most of the major bitcoin forums, although many users were quick to point out that Apple will still decide what exactly qualifies as “approved virtual currencies,” and that bitcoin might not make that list. Apple has yet to make any formal announcement on the topic. It’s not clear why Apple would have reversed their policy, although the changes have likely been planned for some time.

Following the announcement, bitcoin prices rose nearly $50, from $628 to $675, before settling in around $660.