{"id":6802,"date":"2023-11-21T17:35:49","date_gmt":"2023-11-21T17:35:49","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=6802"},"modified":"2024-03-27T10:31:53","modified_gmt":"2024-03-27T10:31:53","slug":"apple-sued-for-blocking-crypto-technology","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/apple-sued-for-blocking-crypto-technology\/","title":{"rendered":"Apple Sued For Blocking Crypto Technology!"},"content":{"rendered":"

Apple<\/strong> 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<\/strong> 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.<\/p>\n

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

The plaintiffs claimed that Apple<\/strong> 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”.<\/p>\n

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You can follow us on Google News to be notified of our content instantly!<\/strong><\/span><\/a><\/p>\n

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

The plaintiffs describe themselves as victims due to increased fees from restrictions involved in Apple’s<\/strong> iOS<\/strong> P2P<\/strong> payment trading.<\/p>\n

Plaintiffs seeking compensation for excessive fees and overbilling due to Apple’s<\/strong> 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.<\/p>\n

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.<\/p>\n

\n

You May Be Interested: Aptos and Alibaba Announced New Partnership!<\/span><\/strong><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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. 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