Apple facing justice: The tech giant accused of limiting the use of cryptos

The American technology giant is regularly in the spotlight. In question, its processes deemed unfair to stifle or even eliminate all competition. This, to the great dismay of users who pay the high price. This is the substance of the collective legal action brought against the company, particularly concerning the use of cryptos as a P2P payment method.

Legal action against Apple for restricting the use of cryptos

Once again, the American technology group Apple will have to face justice, American in this case. According to recent information, a class action lawsuit has been filed against the company.

The company is accused of having cleverly orchestrated the restriction of the use of cryptos as a P2P means of payment. These allegations are fundamentally serious since they highlight the alleged anti-competitive practices deployed by the company.

According to the plaintiffs, Apple would increase, in a completely discretionary manner, the cost of its payment services. As a result, users find themselves faced with inflationary prices leaving them with no viable alternative.

This is in fact the crux of the criticism made against the company. Because, the only viable alternative for users, cryptos, Apple has arranged, according to the complainants, so that users do not benefit from its advantages.

While its platform is ideal for peer-to-peer mobile payments, Apple would exercise control over all apps installed through its App Store. As a result, the company hinders decentralized payments. But then, how does the company proceed?

Apple faces legal action for allegedly restricting the use of cryptos as a P2P payment method

In a context of alleged abuse of dominant position?

In their collective complaint filed in the State of California, the plaintiffs highlight the scheme implemented to restrict the use of cryptos as an alternative method of payment.

Concretely, the plaintiffs accuse Apple of abusing its dominant position in the technological market. At least that’s what their accusation that Apple has made anticompetitive deals with Cash App and Venmo suggests.

These agreements would stifle competition on features and prices. This includes incorporating decentralized crypto technology into existing or new peer-to-peer iOS payment apps.

Furthermore, Apple is accused of having banned crypto-related applications in its App Store, citing the example of Bitcoin Zeus wallets. The lawsuit highlights the arbitrary application of fees and restrictions. She particularly mentions incidents such as the threat of deletion of the decentralized social network application Damus, supported by Jack Dorsey. This is because of its tilting function. All this remains to be proven in court. But you should know that this is not the first time that Apple has been sued for its anti-competitive practices. In September, the company was accused of leveraging its dominance in Apple devices to the detriment of its competitors. In 2022, the European Union (EU) also made an accusation against the American digital giant. This, after another complaint filed a year earlier by Spotify, which accused the company of distorting competition in the music streaming market.

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