Apple opens the door for digital currencies, such as bitcoin

Hong Kong's biggest virtual currency trading platform hopes to benefit from a rewrite of rules by Apple that could soon allow the use of bitcoin and other digital money transactions on mobiles and tablet devices.

The Asia Nexgen (ANX) bitcoin exchange said the company would apply to have a ban lifted on its mobile and tablet app in a couple of days, after studying the latest policy shift from the iPhone maker.

Lo Ken-bon, co-founder and chief executive of ANX, said: "It's a very positive step that Apple is recognising virtual currencies are a big part of the online ecosystem and they are going some way to acknowledge that in some degree and hopefully they'll embrace it and allow it to co-exist."

Apple revised its policy on purchasing and currencies on Monday, triggering hopes it would end a block on a number of technology firms from using its iOS app platform to send virtual currencies to anyone, anywhere in an instant.

Apple said "apps may facilitate transmission of approved virtual currencies" without specifically addressing bitcoin, the largest kind of e-money. However, it warned that transactions had to comply with strict rules and regulations wherever apps were being used.

Governments and regulators fear digital currencies facilitate crime, such as money laundering and terrorism financing.