Apple receives a lawsuit for prohibiting crypto payments

The company was hit with a class action lawsuit, which accuses the company of orchestrating an alleged scheme against cryptocurrency payments

In a powerful legal action, dissatisfied consumers are filing a class-action lawsuit against Apple, alleging that the company orchestrated a scheme to restrict peer-to-peer payment options and block cryptographic technology on their iOS devices.

The lawsuit, filed Nov. 17 in a California district court, accuses Apple of anticompetitive agreements with PayPal’s Venmo and Block’s Cash App, thereby limiting the use of decentralized cryptographic technology in payment applications. This, according to the plaintiffs, resulted in “rapidly inflated” payments by users.

“These agreements limit feature competition, and the price competition that would result from it, at the market level, including by prohibiting the incorporation of decentralized cryptographic technology within existing or new iOS Peer-to-Peer payments applications,” he maintains. the demand.

Additionally, the plaintiffs argue that Apple uses “technological and contractual restrictions,” including App Store exclusivity and “contractual limitations on web browser technology,” to have “absolute control” over all apps on iPhones and iPads.

The lawsuit notes that Apple forces new P2P apps on iOS to prohibit the use of cryptocurrency “as a condition of entry.”

These consumers, who describe themselves as victims of inflated fees due to Apple’s business restrictions, are seeking to recover excessive fees and improper charges. They are also seeking a court order preventing Apple from continuing with anti-competitive agreements in the P2P payments market on iOS.

The extensive 58-page document chronicles the evolution of peer-to-peer payment applications, the rise of decentralized cryptocurrencies, and Apple’s foray into this competitive market. In April, the Ninth Circuit Court of Appeals already ruled that Apple violated California competition laws by restricting payment options not linked to the company.

K. Tovar

Source: Cointelegraph

(Referential image source: Laurenz Heymann, Unsplash)

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