News Report Technology
November 21, 2023

Apple Faces Lawsuit for Blocking Crypto Peer-to-Peer Payment Services

In Brief

Displeased consumers have initiated a class-action lawsuit against Apple, accusing it of participating in anti-competitive crypto practices.

Apple Faces Lawsuit for Blocking Crypto Peer-to-Peer Payment Services

Displeased consumers have initiated a class-action lawsuit against tech giant Apple, accusing the company of participating in anti-competitive practices.

According to plaintiffs, the company entered into agreements with PayPal’s Venmo and Block’s Cash App to restrict the use of decentralized cryptocurrency technology in payment apps, resulting in users paying rapidly inflating prices.  

Apple uses technological and contractual limitations, including hardware-enforced App Store exclusivity and contractual limitations on web browser technology, for unfettered control over the installation and operation of every app on iPhones and iPads, the lawsuit contends. 

With these restraints, Apple forces new to market iOS P2P payment apps to exclude cryptocurrency “as a condition for entry”. 

These alleged anti-competitive agreements not only limit feature and price competition but also prevent the incorporation of decentralized cryptocurrency technology in existing or new iOS Peer-to-Peer Payment apps.

Plaintiffs Against Apple’s Anti-competitive Conduct

The plaintiffs, identifying themselves as customers who have paid inflated fees as a result of Apple’s trade restraints within the iOS P2P payment market. 

They are pursuing compensation for excessive fees and overcharging, due to the company’s alleged anticompetitive conduct. Additionally, they seek injunctive relief to prevent the company from entering into and enforcing anticompetitive agreements that restrict competitors and potential entrants in the iOS P2P payment market.

The 58-page class action involves a detailed history and evolution of peer-to-peer payment apps and decentralized cryptocurrencies, along with Apple’s entry in this market.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
Kadena Strengthens Institutional Blockchain Ecosystem Via Access Equity Partnership
Business News Report Technology
Kadena Strengthens Institutional Blockchain Ecosystem Via Access Equity Partnership
October 14, 2025
Gate Launches Futures Points Airdrop Public Beta To Boost Engagement And Reward Participation Across Its Trading Ecosystem
News Report Technology
Gate Launches Futures Points Airdrop Public Beta To Boost Engagement And Reward Participation Across Its Trading Ecosystem
October 14, 2025
DFG’s TOKEN2049 Singapore Event Connects Natural Ecosystems And Web3 Innovation
Business Lifestyle News Report Technology
DFG’s TOKEN2049 Singapore Event Connects Natural Ecosystems And Web3 Innovation
October 14, 2025
Hyperwave Announces HWAVE Token Sale Through Liquidity Bootstrapping Pool On Hyperliquid
News Report Technology
Hyperwave Announces HWAVE Token Sale Through Liquidity Bootstrapping Pool On Hyperliquid
October 14, 2025