Fun

US sues Apple for ‘shapeshifting’ rules that throttled crypto apps and others

News Feed - 2024-03-22 12:03:29

Jesse Coghlan5 hours agoUS sues Apple for ‘shapeshifting’ rules that throttled crypto apps and othersApple’s App Store rules enforcement arbitrarily “penalize and restrict developers” that compete with the tech giant’s “monopoly power,” the DOJ alleged.3797 Total views3 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe United States Department of Justice (DOJ) has slapped tech giant Apple with an extensive antitrust lawsuit claiming its app market rules and “monopoly” illegally throttled competition and suffocated innovation.


The March 21 complaint in a New Jersey federal court — supported by 16 state attorney generals — alleged Apple has a monopoly in the smartphone market that it has used to “‘force’ developers to use its payment system to lock in both developers and users on its platform.”


Apple’s App Store guidelines and developer agreements impose “a series of shapeshifting rules and restrictions” that allow the company to take “higher fees, thwart innovation, offer a less secure or degraded user experience, and throttle competitive alternatives,” the DOJ alleged.


The issue could be the reason why many crypto-based apps today offer only limited functionality on iOS devices. “Apple’s anticompetitive conduct not only limits competition in the smartphone market, but also reverberates through the industries that are affected by these restrictions, including financial services.”


Apple policies have ousted alternative payment systems “in ways that were anticompetitive and exclusionary,” the DOJ said.


It also highlighted the 30% Apple tax, a fee the company charges for apps and in-app payments whose “content, product, or service it did not create.”


The fee and Apple payment systems are fiat-compatible only and have walled off the use of crypto in apps or made it not economically viable for a crypto-based app to offer in-app purchases.


Apple offers ”certain enterprise and public sector customers” the ability to offer their own apps through custom app stores, but iPhone users and developers are restricted from such alternative app stores, as they would compete with the Big Tech player’s fees, the DOJ said.“Apple often enforces its App Store rules arbitrarily. And it frequently uses App Store rules and restrictions to penalize and restrict developers that take advantage of technologies that threaten to disrupt, disintermediate, compete with, or erode Apple’s monopoly power.”


Some nonfungible token (NFT) marketplaces, such as OpenSea, have disabled functionality on their iOS apps as NFT sales are subject to the 30% fee.


The Bitcoin (BTC)-friendly social app Damus also had to kill a BTC tipping feature after Apple delisted its app because it wasn’t routed through its in-app payments function, where it takes a cut.


Web apps — those based online, available through a web browser and outside the App Store — are still under Apple’s control as the firm requires all iOS web browsers to use its WebKit browser engine.


Related:Apple is poised to bring metaverse mainstream and dominate the market


The DOJ also alleged Apple had denied access to competing digital wallets that would provide a “wide variety of enhanced features” and barred developers from providing their own payment services to their customers.


An Apple spokesperson told Cointelegraph the DOJ’s complaint was “wrong on the facts and the law, and we will vigorously defend against it.”


Apple claimed the lawsuit “set a dangerous precedent” as it could give the government the power to “take a heavy hand in designing people’s technology.”


In the European Union, the Digital Markets Act has forced Apple to offer alternative browser engines, payment functions and app stores, although the company still has an approval process in place as it claims the new options threaten user privacy and security.


Apple (AAPL) shares fell 4% on the day to around $171 and have stayed flat in after-hours trading, according to Google Finance.Apple shares on March 21 fell after the DOJ lodged its lawsuit. Source: Google Finance


Magazine: Apple developing pocket AI, deep fake music deal, hypnotizing GPT-4: AI Eye# Apple# Law# Business# United States# Court# RegulationAdd reactionAdd reactionRead moreGBTC outflows top $358M, but one theory suggests it’s almost overCrypto service provider regulations set out in Estonian billDo Kwon’s extradition case may be headed to Montenegro’s Supreme Court

News Feed

Peter Schiff Advises Selling Bitcoin Today — Says It’s ‘the Smart Move’
Peter Schiff Advises Selling Bitcoin Today — Says It"s "the Smart Move" Gold bug and economist Peter Schiff has recommended selling bitcoin today, emphasizing that it is “
Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy
Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy According to various reports, investors are reportedly interested in purchasing Coindesk, a
Is The XRP Price Rally Over At $2.22? New Developments Suggest Major Pump Is Coming
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Kim Dotcom Says Bitcoin Cash ‘Great for Payments,’ Expects BCH to Cross $3K in 2021
Kim Dotcom Says Bitcoin Cash "Great for Payments," Expects BCH to Cross $3K in 2021 On December 17, the internet entrepreneur and political activist Kim Dotcom s
Decentralized Web3 Protocol Golden Raises $40 Million Backed by A16z
Decentralized Web3 Protocol Golden Raises $40 Million Backed by A16z Golden, a startup that seeks to build a decentralized data hub, has raised $40 million dollars in a Series B fu
Australia took down 600 crypto scams, says AI will make it worse
Stephen Katte3 hours agoAustralia took down 600 crypto scams, says AI will make it worseAustralia’s financial markets regulator says due to the evolving nature of technology, it’s becoming increasingly challenging fo
Bitcoin halving impact on altcoins
Arijit Sarkar1 hour agoBitcoin halving impact on altcoinsAltcoins may react differently to the Bitcoin halving depending on various factors, including tokenomics, value proposition and its overall contribution toward fin
Lugui Tillier1 hour agoBitcoin has entered a civil war — Over ‘art’The Ordinals Protocol is generating a circular digital economy where assets are priced, bought and sold via Bitcoin.932 Total viewsListen to articl
Solana Holds Crucial Level – Can SOL Push Above $200?
Este artículo también está disponible en español. Solana (SOL) is showing resilience as it holds firmly above critical demand levels, signaling the potential for an upcom
Ethereum Whales Offload 143,000 ETH In One Week – More Selling Ahead?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Derek Andersen2 hours agoSettlements giant DTTC acquires blockchain infrastructure developer SecurrencySecurrency will help DTTC increase its role in developing digital asset clearance options. DTTC settled $2.5 quadrill
Bitcoin reclaims blockchain dominance post-BTC halving
Josh O"Sullivan13 hours agoBitcoin reclaims blockchain dominance post-BTC halvingBitcoin’s blockchain bandwidth usage surpasses 90% post-halving, driven by new token standards and increased transaction volume.2257 Tota