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Could be wording that allows Apple to blacklist future virtual currencies as needed (i.e., mmorpg credits).

So largely the US is out since the Fed said Bitcoin is not a currency, right? Or the term "virtual" makes it not required to be approved by the Fed? Who is the approver then?

"Approved" in the Apple rules probably means by Apple, not by someone else.

> So largely the US is out since the Fed said Bitcoin is not a currency, right?

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 wasn't even criticizing Bitcoin and got downvoted already? Aww..

I was talking about this, which amounts to almost the same thing:

http://blogs.wsj.com/moneybeat/2014/02/27/yellen-on-bitcoin-...

Per the IRS Bitcoin is taxable property

http://online.wsj.com/articles/lawrence-parks-bitcoins-futil...

I'm guessing Apple approves them, because other sections mention approving as well.