The Apple App Store ranks the Block and the Coinbase as financial applications

Apple classifies the blockfolio and the coinbase as financial applications

Apple recognized the Coinbase and Blockfolio applications as financial apps. According to the Reddit user, cl0ck3d, Apple created a folder called & # 39; finance & # 39; with these two applications.

The subreddit r / CryptoCurrency started to discuss the problem by explaining that this was not a big problem as supposed. Apparently, developers who submit questions must decide on which category their apps will appear. Since there is no available cryptography / blockchain category, Coinbase and Blockfolio may have selected the "Finance" category when sending their apps.

Users suggest that Apple may officially recognize cryptography as financial assets rather than another type of activity. Apple, however, has not mentioned anything about the way it decides to classify these apps in the app store.

At the moment, Apple has decided to ban several cryptocurrency miners who were operating illegally in their app store. Something similar is doing Android. Some users were downloading apps that promised to extract virtual currencies using the users 'mobile, but it turned out that they were digging Monero (XMR) for themselves and damaging the phones' battery.

Although the Reddit user seemed very happy with Apple's decision, the community began to joke about the applications that the user had rather than the fact that Apple categorized the crypto-apps as "Finance".

Regulatory agencies do not have a clear position on this cryptocurrencies they should be considered as financial assets, commodities or securities. This is something that generates uncertainty in the market and could damage the entire industry.