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.

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.

Tags: App Store, Apple Antitrust, Cryptocurrency

This article, "Judge Tosses Out Cryptocurrency Apple Antitrust Lawsuit Filed by Venmo Customers" first appeared on MacRumors.com

Discuss this article in our forums

Source: TechRadar

The hidden cost of food delivery

Noah Lichtenstein Contributor Share on Twitter Noah Lichtenstein is the founder and managing partner of Crossover , a diversified private technology fund backed by institutional investors, technology execs and professional athletes and entertainers. More posts by this contributor What Studying Students Teaches Us About Great Apps I’ll admit it: When it comes to food, I’m lazy. There are dozens of great dining options within a few blocks of my home, yet I still end up ordering food through delivery apps four or five times per week. With the growing coronavirus pandemic closing restaurants and consumers self-isolating, it is likely we will see a spike in food delivery much like the 20% jump China reported during the peak of its crisis. With the food delivery sector rocketing toward a projected $365 billion by the end of the decade, I’m clearly not the only one turning to delivery apps even before the pandemic hit. Thanks to technology (and VC funding) we can get a ri

Cyber Monday Canada: Last-minute deals for everyone on your list

Best Cyber Monday Canada deals: Smart Home Audio Phones, Tablets & Accessories Wearables Laptops & PC Components Amazon products Gaming Televisions Cameras Lifestyle & Kitchen Toys & Kids Cyber Monday Canada is here, and retailers are rolling out the red carpet for customers who want to shop for everything from tech to kitchenware to games and everything in between. Unlike years past, Cyber Monday Canada deals look a bit different than normal. Instead of retailers trying to pack their stores with as many shoppers as possible, we're seeing tons of online deals that you can take advantage of from the comfort of your home. We've rounded up our favorites below, so feel free to browse through the best of what Canada Cyber Monday has to offer! This list is being updated with new Cyber Monday deals all the time, so check back often. Spotlight deals It's a Switch Nintendo Switch Fortnite Edition bundle $399.95 at Amazon It's a Switch.

iPhone 13 Pro vs. iPhone 15 Pro Buyer's Guide: 50+ Differences Compared

The iPhone 15 Pro brings over 50 new features and improvements to Apple's high-end smartphones compared to the iPhone 13 Pro, which was released two years prior. This buyer's guide breaks down every major difference you should be aware of between the two generations and helps you to decide whether it's worth upgrading. The ‌iPhone 13‌ Pro debuted in 2021, introducing a brighter display with ProMotion technology for refresh rates up to 120Hz, the A15 Bionic chip, a telephoto camera with 3x optical zoom, Macro photography and photographic styles, Cinematic mode for recording videos with shallow depth of field, ProRes video recording, a 1TB storage option, and five hours of additional battery life. The ‌iPhone 13‌ Pro was discontinued upon the announcement of the iPhone 14 Pro in 2022, but it is still possible to get hold of it second-hand. Our guide helps to answer the question of how to decide which of these two iPhone models is best for you and serves as a way to c

Technics EAH-AZ60 review: Contending in stunning fashion

Technics serves notice that everyone should notice these earbuds. Technics ventured into the wireless earbuds category to go after the big dogs in the race. Think of the likes of Sony, Bose, and Sennheiser on sound quality, as well as the best you can find on design and functionality. It's a combination that comes at a price, but if done right, it gets easier to justify spending more. That's the case Technics makes with its EAH-Z60 earbuds. Its newest pair aims to take what the company has done in the past and make it even better. The results are easy to like and are significant enough to consider them as serious contenders. Technics EAH-AZ60 review: Price and availability What's good What's not good The competition Should you buy? At a glance Technics EAH-AZ60 Bottom line: Technics didn't just do one thing right with the EAH-AZ60. It covered almost the whole gamut of what makes wireless earbuds feel and sound exceptional. As a result, the p

Tech Talk

Search This Blog