Apple's App Store explains for How It Handles Fake Crypto Apps

Apple's App Store is currently under attention for how it handles fraudulent cryptocurrency apps that mislead consumers into thinking they're investing in real money.

Sherrod Brown, the chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, wrote to Apple CEO Tim Cook.

inquires about Apple's procedures for screening, evaluating, and deleting crypto applications before and after they are made available for download on the App Store.

Apple already has rigorous restrictions in place for apps on the App Store, but Brown wants to know what efforts Apple takes to keep bogus crypto apps off the site.

While firms that offer crypto investment and other related services should take the necessary steps to prevent fraudulent activity

including warning investors about the uptick in scams, it is likewise imperative that app stores have the proper safeguards in place to prevent against fraudulent mobile application activity.

These standards specify that crypto applications may not mine for cryptocurrencies using on-device processing, 

that apps may not compel users to accomplish activities such as social media posting in order to acquire cash, and that other restrictions apply.

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