Apple has asked a U.S. judge to dismiss a consumer lawsuit accusing it of illegally banning apps that facilitate cryptocurrency transactions and jacking up fees for Venmo and Cash Apps.
Mike Scarcella of Reuters:
The Cupertino, Calif.-based technology company said in documents filed Friday in California federal court that four Venmo and Cash App users who filed an antitrust lawsuit cited illegal app rules and business agreements. He said no.
The lawsuit, filed in November, alleges that Apple's restrictions on cryptocurrency technology are stifling competition in peer-to-peer payments and raising fees for cash and credit card transactions on PayPal's Venmo and Block's Cash App. are doing. Apple is the sole defendant in this lawsuit.
Apple's filing says the lawsuit is based on a “highly speculative hypothesis” that consumers were forced to pay higher prices. The complaint said it has not been shown that virtual currency transactions are “a reasonable substitute for the instant cash and credit card transactions offered by Venmo and Cash App.”
Mac Daily News Notes: The case is Lamartine Pierre et al. v. Apple Inc.U.S. District Court for the Northern District of California, case number 5:23-cv-05981.
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