Last month, Google revised the terms of service in its Play Store, banning the cryptocurrency mining application.
The revised terms of service clearly state the following:
“We don’t allow apps that mine cryptocurrency on devices.”
However, Google also mentioned that apps which remotely manage cryptocurrency mining are permitted, so that is one way to explain the reason why some mining apps still exist. Despite the ban, a few digital currency mining apps either updated to abide by the new terms – nor have removed their apps from the store.
These mining apps include BTC Miner Pool, Bitcoin Mining and Pickaxe Miner which still live on Google Play. Cloud Bitcoin Miner, on the other hand, revised its services in accordance with the new Google terms.
A mining app named MinerGate last week announced the new version of its app for Google Play, stating that it has been designed for “monitoring and managing” the user’s mining process in order to abide by the new Google terms. MinerGate told Hard Fork:
“Mining on your phone directly was among the core features of the MinerGate app before the last changes in Google Play Development policies. With the last update, we are removing this functionality to meet the updated requirements.”
The same re-launch model was initiated by one UK-based blockchain startup called JSEcoin which facilitates cryptocurrency mining. So, it is safe to say that Google’s ban on crypto mining is for “90% of all extensions with mining scripts that developers have attempted to upload to Chrome Web Store”, as the search engine giant said last year.
So far, many malicious cryptojacking apps have been banned after an Android app was found cryptojacking devices in January 2017, followed by many other apps that mined Monero (XMR), followed by the ICO advertisements ban imposed from June this year.
Justin Sun Proves Crypto Is Not A Scam By Hiring A Former SEC Official
“We’re ready to fully embrace regulation here. We’ve just hired our first head of compliance, who previously worked for the SEC for almost eight years.”TRON’s founder wants to make sure that TRON is fully regulated in the United States but also Korea and Japan. He made a point that Blockchain is a like a new operating system and that the worlds need to embrace it and be more optimistic towards regulation. He continued saying:
‘’The SEC, I think also sees the blockchain as good opportunity for innovation in the United States. I’m hoping that this year the SEC will license and regulate coin-based exchanges. This year will be the year of full regulation.’’One of the ways that Sun can make blockchain mainstream is by launching the BitTorrent Token on the Binance Launchapd. BitTorrent is a file sharing protocol that serves 100 million users in more than 130 countries. Sun acquired BitTorrent for $126 million last year. However, former chief strategy officer Simon Morris of BitTorrent said that there is no possible way for the TRON blockchain to be able to handle the transactions conducted on BitTorrent’s network but at the end, he ended up being dismissed as an incompetent employee.
UN Thinks Bitcoin & Crypto Are “The New Frontiers” In Finance, Focusing On Ripple And IOTa
“Cryptocurrencies represent a new frontier in digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, bitcoin being a well-known example, can keep track of digital transactions. They enable value to be exchanged and can give rise to new business models which would otherwise require significant regulatory and institutional commitments." the report states.According to the UN, blockchain and crypto have many use cases. As it is explained in the document:
"For example, a value token called ClimateCoin is being considered as a basis for creating a global market for carbon emissions, allowing peer-to-peer exchange of carbon credits and a direct connection with the Internet of Things. It would then be possible for devices to calculate their own carbon emissions and purchase carbon credits to offset those emissions."The document also focuses on innovation and how it comes from inherent trust, citing that "the innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation."
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