% 1.15
BTC Dominance:
% 0.21
Market Cap:
$2.38 T
% 1.77
Fear & Greed:
74 / 100
$ 66.210
BTC Dominance:
% 54.5
Market Cap:
$2.38 T

Apple Sued For Blocking Crypto Technology!

Tempory 21

Apple is being accused of making a series of agreements to limit peer-to-peer payment options based on crypto technology and block them from iOS payment apps. Consumer plaintiffs filed a lawsuit on November 17, alleging that users were subject to excessive price increases as a result of this action.

The filed lawsuit states that Apple has hindered the use of competitive and decentralized crypto currency technology against PayPal’s Venmo and Block’s Cash App. The file states, “These agreements prevent the use of decentralized cryptocurrency technology in existing or new iOS Peer-to-Peer Payment applications, thereby limiting the competitive structure of the overall market and the ensuing price competition.”

The plaintiffs claimed that Apple focused on the management and control of proprietary applications to the App Store and implemented many technological and contractual restrictions, including “contract-based restrictions on web browser technology”.

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The lawsuit document claims that Apple has been able to impose this crypto limitation on new iOS P2P payment applications as an “entry condition” and that it has already achieved this.

The plaintiffs describe themselves as victims due to increased fees from restrictions involved in Apple’s iOS P2P payment trading.

Plaintiffs seeking compensation for excessive fees and overbilling due to Apple’s anti-competitive actions, demand a measure to prevent the company from continuing to make and implement agreements that limit its competitors and new market players. The lawsuit, consisting of a total of 58 pages, examines in detail how Apple entered this market along with the history and development process in peer-to-peer payment applications and decentralized cryptocurrencies.

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In a hearing held in April, the Ninth Circuit Court of Appeals ruled that Apple violated California’s competition laws by preventing users from using payment solutions unrelated to Apple.

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