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Apple To Permit Bitcoin In The App Store

Jun 17 2014, 11:22pm CDT | by , in Rumors | Apple

Apple To Permit Bitcoin In The App Store
Photo Credit: Getty Images

The company is reversing its previous stance on Bitcoin Apps

Apple has had a contentious relationship with Bitcoin in the past, going to far as to ban or reject Bitcoin Apps that had been in the App store. Apple Balla reports that they are going to be reversing their position and start placing the Apps back in the App Store.

Bitcoin is controversial in many circles, primarily due to the fact that it was the method of payment for illicit drugs on the Silk Road marketplace before it was shut down and its coins seized last year. Since then, however, it has exploded in popularity and there are now Bitcoin banks and ATMs located all across the world. Apple originally started banning the Apps to protect themselves from a legal standpoint, but that is changing.

Coin Pocket was the first virtual currency application that was placed back on sale this week, although there are Apps from major companies such as Coinbase and Blockchain that are waiting to be reinstated. Whether or not they will have their’s on sale remains to be seen. They have fought hard to have this right, but up until now there were no signs that Apple had any interest in them.

 

With this change, Apple is relenting some of the supreme control that they have had in the past. Android Apps have thrived, but the large customer base of Bitcoin has been blocked out of Apple. The enthusiasm that they have can’t be denied, but it is only rivaled by the kind of fan base that Apple itself has, making this a powerful move.

 

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