Judge Tosses Out Cryptocurrency Apple Antitrust Lawsuit Filed by Venmo Customers
A lawsuit targeting Apple's refusal to allow apps to support cryptocurrency transactions was today tossed out by a San Francisco judge, reports Reuters. The lawsuit, which was filed by Venmo and Cash App customers, claimed that Apple drove up the fees charged by Venmo and Cash App by not letting payment apps facilitate cryptocurrency transactions.
![iOS App Store General Feature Black](https://images.macrumors.com/t/5VmU_KvzHewge8EESNKnU-duolI=/400x0/article-new/2022/01/iOS-App-Store-General-Feature-Black.jpg?lossy)
The plaintiffs alleged that Apple curbed competition in the mobile peer-to-peer payment market with its App Store guidelines. No option for cryptocurrency has supposedly caused Venmo and Cash App to raise prices for transactions and services due to "no competitive check." A payment app that is based on decentralized cryptocurrency technology would let iPhone users "send payments to each other without any intermediary at all."
According to the lawsuit, Venmo, Cash App, PayPal, and other payment providers agreed to an App Store guideline that does not allow for cryptocurrency transactions, which constitutes an "unlawful agreement." Apple asked for the case to be thrown out because the plaintiffs were not able to demonstrate illegal app rules or business agreements, and the judge agreed.
Apple's App Store rules allow cryptocurrency wallets that store virtual currency, and apps can facilitate cryptocurrency transactions on an approved exchange in countries where the app has licensing and permission to operate a crypto exchange.
The judge overseeing the case called it "speculative" and said it "suffers from several fatal problems." The plaintiffs have been given 21 days to submit an amended complaint, but the judge does not believe the case can be saved.
Popular Stories
Following nearly two years of rumors about a fourth-generation iPhone SE, The Information today reported that Apple suppliers are finally planning to begin ramping up mass production of the device in October of this year. If accurate, that timeframe would mean that the next iPhone SE would not be announced alongside the iPhone 16 series in September, as expected. Instead, the report...
Key details about the overall specifications of the iPhone 17 lineup have been shared by the leaker known as "Ice Universe," clarifying several important aspects of next year's devices. Reports in recent months have converged in agreement that Apple will discontinue the "Plus" iPhone model in 2025 while introducing an all-new iPhone 17 "Slim" model as an even more high-end option sitting...
Apple supply chain analyst Ming-Chi Kuo today shared alleged specifications for a new ultra-thin iPhone 17 model rumored to launch next year. Kuo expects the device to be equipped with a 6.6-inch display with a current-size Dynamic Island, a standard A19 chip rather than an A19 Pro chip, a single rear camera, and an Apple-designed 5G chip. He also expects the device to have a...
The upcoming iPhone 16 models that we're expecting to see in September are going to be quite similar to the iPhone 15 models, but rumors suggest that Apple is making big changes in 2025. We've been hearing hints of an all-new device in the iPhone lineup, and it may be the most expensive iPhone Apple has offered to date. Subscribe to the MacRumors YouTube channel for more videos. New 'Slim'...
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
Apple released the fourth beta of iOS 18 today, introducing small changes to a number of features throughout the operating system. There are no big additions in this beta, but Apple is continuing to refine existing settings and design choices. Apple plans to continue updating iOS 18 over the next few months, with the update set to be released this fall. We've rounded up all of the changes...
The fourth-generation iPhone SE will offer a series of major upgrades over the current model, the leaker known as "Ice Universe" claims. The information was listed in a post on Weibo, which also detailed the specifications of the iPhone 17 lineup. As previously rumored, the fourth-generation iPhone SE is expected to feature Face ID and USB-C, marking a major upgrade from current and previous ...
Apple is planning to release at least one iPhone 17 model next year with mechanical aperture, according to a report published today by The Information. The mechanical system would allow users to adjust the size of the iPhone 17's aperture, which refers to the opening of the camera lens through which light enters. All existing iPhone camera lenses have fixed apertures, but some Android...