> 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
... which begs the question: Are there approved virtual currencies? I'd also be curious whether litecoin is on that list as well.
I guess I missed that. I remember the IRS said bitcoin would be taxed using non-currency rules, but the specifics of how something is taxed doesn't necessarily impact whether Apple "approves" it as a virtual currency.
I was talking about this, which amounts to almost the same thing:
They are really inconsistent with their rules, so I have my doubts until they make a clear statement about it.