Apple is confronted with a class-action lawsuit alleging anti-competitive practices, particularly in restricting cryptocurrency payments. The lawsuit asserts that Apple’s control over payment methods on its devices may violate anti-trust laws.
Apple is once again under legal scrutiny as a class-action lawsuit is filed in California, accusing the tech giant of limiting cryptocurrencies as a viable payment method. This comes after previous legal challenges regarding Apple’s control over payment systems on its devices, such as the landmark case with Epic Games. The current lawsuit argues that Apple’s restrictions lead to inflationary price hikes for payment services, leaving users with no practical alternatives.
The plaintiffs contend that the iPhone, an ideal platform for peer-to-peer payments, is hindered by Apple’s control, preventing decentralized payments. This limitation results in users facing higher transaction costs compared to potential alternatives like Venmo and Cash App. The lawsuit claims that Apple’s dominance over the App Store and app installations is a barrier to decentralized payments, depriving iPhone users of a more cost-effective and direct payment method.