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A lawsuit against Apple complaining about instant transfer fees and the company's alleged lack of trust in cryptocurrency was dismissed by the judge in the case. due to serious deficiencies, sent the claim back to the drawing board.
In November 2023, a group of Venmo and Square Cash users attempted to attack Apple, claiming that Apple was violating US antitrust laws over its App Store rules.
On Tuesday, U.S. District Judge Vince Chhabria dismissed the attempted class action, giving the plaintiff 21 days to amend the complaint or drop it entirely. In the ruling, as reported by Reuters, the judge said the complaint was “speculative” and that there were “several fatal problems” in its application.
Payment Rules
Apple required peer-to-peer cryptocurrency transactions to go through an exchange, effectively prohibiting payment app processing cryptocurrency payments directly. The lawsuit argued that Apple created a system that reduced competition and allowed higher transaction fees.
At one point, the lawsuit called the peer-to-peer payments market an “Apple-led cartel” that charges consumers recurring payment processing fees. To make payments faster, additional fees are charged to transactions by payment systems.
Chhabria's ruling clarifies that it is unclear whether companies following the App Store guidelines regarding cryptocurrency payments would be considered an illegal arrangement under antitrust laws.
The judge expressed skepticism in his ruling that the complaint could be reopened, saying it was “difficult to see how an amendment could salvage this case.” This likely means that, barring some major unforeseen developments that get the lawsuit back on track, it is unlikely to return to the courtroom.
In February, Apple asked the court to dismiss the lawsuit, arguing that the lawsuit did not actually prove the existence of any illegal app usage policies or business arrangements.
Judging by the judge's comments, it appears Apple will no longer be bothered by the lawsuit.
