Apple Possibly Open To Virtual Currency Apps Like Bitcoin
Getting approval for Apple’s App Store has its challenges but the rewards are potentially huge. Virtual currencies like Bitcoin and Coinbase are slowly being accepted in many online businesses including Bitcoin only casinos. The fact that Bitcoin is still largely not defined as money is a major reason why online casinos are keen to embrace it as a form of payment in jurisdictions where operating with real money is illegal.
An interesting turn in Apple’s policy on Bitcoin happened at the World Wide Developers conference in San Francisco where Apple stated that they were now accepting “approved currency” apps in the App Store.
While still not 100% clear as to what currencies are approved the feeling is that it includes crypto currencies like Bitcoin as long as it falls under the legal requirements of the region. The App Store’s newly revised guidelines stated,” 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.”
Before Bitcoin fans pop the champagne coins the wording “approved” in virtual currencies is possibly open to interpretation. Some like Hacker News point out that people may indeed be referring to virtual currencies we see when purchasing bonuses in mobile games and not crypto currencies.
For Bitcoin merchants and speculators Apple’s revised policy on virtual currencies could mean that despite a tumultuous ride, it is another step towards “normalizing” the often shady world of virtual currencies. Back in November 2013 Apple removed Coinbase’s iOS Wallet from the App Store. It remains to be seen if Apple really to intend to open the doors to the growing demand for virtual currency payment options.
With more and more social casino games topping the App list, top gaming companies like Zynga and Big Fish Games have also started offering virtual currencies as a form of payment for their apps. Apple prides itself as always being attentive to current trends and there are not too many commodities as exciting and trendy as virtual currencies which have the potential to change the way we conduct financial transactions online.