Lawsuit against Apple for blocking crypto payments
Smartphone manufacturer Apple faced a lawsuit for prohibiting the crypto-related apps on its smartphones & iPads.
Apple inc. is a top smartphone manufacturing company known for its luxurious smartphones. Over the past several years, Apple has shown significant hate against crypto-related applications. In particular company banned all those crypto NFTs apps from the app store which were providing NFT purchases without any role of Apple in the app purchase system to a 30% fee on every transaction.
On 17 Nov 2023, Disgruntled Apple smartphone consumers filed a class-action lawsuit against Apple company over using inbuilt tech to prohibit crypto technology from iOS payment apps.
Plaintiffs alleged that Apple Apple entered into anti-competitive agreements with PayPal’s Venmo and Block’s Cash App to restrict the use of decentralized Crypto technology. The lawsuit claimed that all such restrictions are creating a problem for iPhone smartphone & iPad users because they need to pay inflated prices for the same services.
The plaintiffs also claimed that the company uses inbuilt tech to prohibit the potential ability of the web browser to restrict crypto-related activities.
58-page class action suit against Apple contained all the information related to the relationship between Apple & Crypto sector, to explain how the Apple company entered this market & trying to make money in totally unfair ways.
— cryptoforcrypto (@CryptoTheBoss) November 21, 2023
JUST IN: Apple sued over blocking crypto payment technology for P2P payments.
The lawsuit alleges Apple entered into anti-competitive agreements with Venmo and Cash App to restrict the use of decentralized cryptocurrency technology in payment apps, which caused users to… pic.twitter.com/GOf0vqb5gI
Earlier in April of this year, A California court ruled against this smartphone manufacturer company & confirmed that the company violated state competition laws by prohibiting app developers from using other in-app purchase payment services apart from Apple’s in-app purchase, which includes a 30% commission.
At the time, the majority of the people considered that the court ruling would bring a better situation for the Crypto NFTs apps to get entry into the Apple app store with better features & functionality.
Read also: SEC demands $4 billion from Binance to settle the case
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