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According to the GSMA, iPhone 4 owners now can run applications that aren’t approved by Apple with Jailbreakme 2.0. Its developers launched the utility tool a week after U.S. regulators announced that users can legally “hack” or “jailbreak” their iPhones so they can download and install software and programs that Apple has not officially approved.

The BBC reports that iPhone owners are losing FaceTime and multimedia messaging services as a result of using the tool. However, “jailbreaking doesn’t slow down your device or use any extra battery,” says the team behind Jailbreakme 2.0. “A jailbreak lets your device be how you want it.” 

The tool’s developers say that it works on all iPhones and iPod touches running iOS 4. And unlike previous Jailbreak applications that required users to be connected to an external computer before they could install it, the developers say, the latest version can be accessed and installed using the iPhone’s own Safari Web browser.

Of course, Apple won’t get its 30% cut of any unofficial apps that users download. Last week, the company warned users against using jailbreaking utilities. “The vast majority of customers do not jailbreak their iPhones, as this can violate the warranty and can cause the iPhone to become unstable and not work reliably,” Apple said.