Judge Tosses Out Cryptocurrency Apple Antitrust Lawsuit Filed by Venmo Customers

A lawsuit targeting Apple's refusal to allow apps to support cryptocurrency transactions was today tossed out by a San Francisco judge, reports Reuters. The lawsuit, which was filed by Venmo and Cash App customers, claimed that Apple drove up the fees charged by Venmo and Cash App by not letting payment apps facilitate cryptocurrency transactions.

iOS App Store General Feature Black
The plaintiffs alleged that Apple curbed competition in the mobile peer-to-peer payment market with its App Store guidelines. No option for cryptocurrency has supposedly caused Venmo and Cash App to raise prices for transactions and services due to "no competitive check." A payment app that is based on decentralized cryptocurrency technology would let iPhone users "send payments to each other without any intermediary at all."

According to the lawsuit, Venmo, Cash App, PayPal, and other payment providers agreed to an ‌App Store‌ guideline that does not allow for cryptocurrency transactions, which constitutes an "unlawful agreement." Apple asked for the case to be thrown out because the plaintiffs were not able to demonstrate illegal app rules or business agreements, and the judge agreed.

Apple's ‌App Store‌ rules allow cryptocurrency wallets that store virtual currency, and apps can facilitate cryptocurrency transactions on an approved exchange in countries where the app has licensing and permission to operate a crypto exchange.

The judge overseeing the case called it "speculative" and said it "suffers from several fatal problems." The plaintiffs have been given 21 days to submit an amended complaint, but the judge does not believe the case can be saved.

Popular Stories

iOS 19 Mock WWDC25 Feature

iOS 19 Expected to Run on These iPhones

Monday March 31, 2025 5:28 pm PDT by
iOS 19 will not be available on the iPhone XR, iPhone XS, or the iPhone XS Max, according a private account on social media site X that has accurately provided information on device compatibility in the past. The iPhone XR, iPhone XS, and iPhone XS Max all have an A12 Bionic chip, so it looks like iOS 19 will discontinue support for that chip. All other iPhones that run iOS 18 are expected...
maxresdefault

Apple Releases iOS 18.4 With Priority Notifications, Ambient Music, New Emoji and More

Monday March 31, 2025 10:03 am PDT by
Apple today released iOS 18.4 and iPadOS 18.4, the fourth major updates to the iOS 18 and iPadOS 18 operating system updates that came out last year. iOS 18.4 and iPadOS 18.4 come two months after Apple released iOS 18.3 and iPadOS 18.3. Subscribe to the MacRumors YouTube channel for more videos. The new software can be downloaded on eligible iPhones and iPads over-the-air by going to...
watchOS 11 Thumb 2 1

Apple Releases watchOS 11.4 With Sleep Alarm Update

Tuesday April 1, 2025 10:34 am PDT by
Apple today released watchOS 11.4, the fourth major update to the operating system that runs on the Apple Watch. watchOS 11.4 is compatible with the Apple Watch Series 6 and later, all Apple Watch Ultra models, and the Apple Watch SE 2. watchOS 11.4 can be downloaded on a connected iPhone by opening up the Apple Watch app and going to General > Software Update. To install the new software,...
AirPods Pro Firmware Feature

Apple Releases New Firmware for AirPods Pro 2 and AirPods 4

Monday March 31, 2025 11:27 am PDT by
Apple today released new firmware updates for all AirPods 4 and AirPods Pro 2 models. The new firmware is version 7E93, up from the 7B21 firmware that was installed on the AirPods Pro 2 and the 7B20 firmware available on the AirPods 4 and AirPods 4 with ANC. It is not immediately clear what new features or changes are included in the new firmware, but we'll update this article should we find ...
iPhone 17 Pro 34ths Perspective

iPhone 17 Pro Launching Later This Year With These 10 New Features

Sunday March 23, 2025 10:00 am PDT by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models as of March 2025: Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
macOS Sequoia Feature

Apple Releases macOS Sequoia 15.4 With Mail Categorization and More

Monday March 31, 2025 10:04 am PDT by
Apple today released macOS Sequoia 15.4, the fourth major update to the macOS Sequoia operating system that launched in September. macOS Sequoia 15.4 comes two months after the launch of macOS Sequoia 15.3. Mac users can download the ‌‌macOS Sequoia‌‌ update through the Software Update section of System Settings. It is available for free on all Macs able to run macOS 15. With...

Top Rated Comments

breather Avatar
13 months ago
Crypto is a scam and shouldn’t be allowed on the App Store.
Score: 29 Votes (Like | Disagree)
DelayedGratificationGene Avatar
13 months ago
Same thing will happen to absurd DOJ case. Waste of taxpayer money.
Score: 16 Votes (Like | Disagree)
hoodafoo Avatar
13 months ago
bitcoin is a scam
Score: 7 Votes (Like | Disagree)
dampfnudel Avatar
13 months ago

Crypto is a scam and shouldn’t be allowed on the App Store.
I wholeheartedly agree with you. I know a woman who told me that crypto would allow her to retire early. That was in 2018. She’s still working.
Score: 6 Votes (Like | Disagree)
Jumpthesnark Avatar
13 months ago
So Venmo and the Cash App raised their fees and blamed Apple, and now some of their customers are suing Apple over it, saying that Apple stifled competition even though those two companies should be lowering their fees if they are truly competitive, regardless of Apple. Got it.

It turns out that the crypto users will really believe in any scammy thing you tell them.
Score: 6 Votes (Like | Disagree)
mdriftmeyer Avatar
13 months ago

I'm going to agree with you, but with a caveat.

Apple should be required to allow normal software installation. Then the cryptoidiots could get their scam apps from any source of their choosing, I could install an open source terminal app from Github, and you could install anything you want too.

It's not Apple's iPhone, it's MY iPhone, and I have the right to install software of my choosing on it, without Apple's interference.

Then Apple can set whatever app store policies they want on their store, they can charge developers 90% if they want, and it won't matter.
https://www.apple.com/legal/procurement/docs/OL-APAC-AP_v.1.0.pdf


12. OWNERSHIP OF WORK PRODUCT. For purposes of this Agreement, "Work Product" includes, without limitation, all designs, discoveries, creations, works, devices, masks, models, work in progress, Service deliverables, inventions, products, computer programs, procedures, improvements, developments, drawings, notes, documents, information and materials made, conceived, or developed by Seller, alone or with others, which result from or relate to the Services performed pursuant to a PO, and all copies thereof. Standard Goods manufactured by Seller and sold to Apple without having been designed, customized, or modified for Apple do not constitute Work Product. All Work Product shall at all times be and remain the sole and exclusive property of Apple. Seller hereby agrees to irrevocably assign and transfer to Apple and does hereby assign and transfer to Apple all of its worldwide right, title, and interest in and to the Work Product including all associated intellectual property rights. Apple will have the sole right to determine the treatment of any Work Product, including the right to keep it as trade secret, execute and file patent applications on it, to use and disclose it without prior patent application, to file registrations for copyright or trademark in its own name, or to follow any other procedure that Apple deems appropriate. Seller agrees: (a) to disclose promptly in writing to Apple all Work Product in its possession; (b) to assist Apple in every reasonable way, at Apple's expense, to secure, perfect, register, apply for, maintain, and defend for Apple's benefit all copyrights, patent rights, mask work rights, trade secret rights, and all other proprietary rights or statutory protections in and to the Work Product in Apple's name as it deems appropriate; and (c) to otherwise treat all Work Product as Apple Confidential Information as described above. These obligations to disclose, assist, execute, and keep confidential survive the expiration or termination of this Agreement. All tools and equipment supplied by Apple to Seller shall remain the sole property of Apple. Seller will ensure that Seller's Affiliates appropriately waive any and all claims and assign to Apple any and all rights or any

OL-APAC- AP v1.1
interests in any Work Product or original works created in connection with this Agreement. Seller irrevocably agrees not to assert against Apple or its direct or indirect customers, assignees, or licensees any claim of any intellectual property rights of Seller affecting the Work Product. Apple will not have rights to any works conceived or reduced to practice by Seller which were developed entirely on Seller's own time without using equipment, supplies, facilities, or trade secret or Apple Confidential Information, unless (i) such works relate to Apple's business, or Apple's actual or demonstrably anticipated research or development, or (ii) such works result from any Services performed by Seller for Apple.


Attachment Image

Attachment Image
Score: 5 Votes (Like | Disagree)