Consumer Law

Judge Dismisses Consumers’ Crypto-Payment Antitrust Case Against Apple

A federal judge in San Francisco has dismissed a consumer lawsuit accusing Apple of driving up fees at platforms such as Venmo and Cash App by prohibiting payment apps from implementing cryptocurrency transactions.

In a ruling on Tuesday, U.S. District Judge Vince Chhabria called the proposed class action “speculative” and said it “suffers from several fatal problems.” He gave the plaintiffs 21 days to amend their complaint.

The November 2023 lawsuit alleged Apple was imposing restrictions on cryptocurrency technology in its popular App Store, harming competition for peer-to-peer payments and pushing up fees for cash and credit card transactions at PayPal’s Venmo and Block’s Cash App. It said Apple has excluded at least two Bitcoin wallet apps.

Read the source article at Nasdaq

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