Apple moves to have ‘speculative’ consumer lawsuit over crypto tech dismissed

Apple has asked a U.S. judge to dismiss a consumer lawsuit accusing the company of unlawfully barring apps that facilitate cryptocurrency transactions and driving up fees for the use of Venmo and Cash App.
Mike Scarcella for Reuters:
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The Cupertino, California-based tech company said in a filing, opens new tab on Friday in California federal court that the four Venmo and Cash App users who filed the antitrust lawsuit had not cited any unlawful app rules or business agreements.
The lawsuit, filed in November, said Apple’s restrictions on cryptocurrency technology have harmed competition for peer-to-peer payments and pushed up fees for cash and credit card transactions at PayPal’s Venmo and Block’s Cash App. Apple is the sole defendant in the lawsuit.
Apple’s filing said the lawsuit was based on a “highly speculative hypothesis” that it had caused consumers to pay inflated fees. It said the complaint failed to show how cryptocurrency transactions “are reasonable substitutes for instant cash and credit card transactions offered by Venmo and Cash App.”

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MacDailyNews Note: The case is Lamartine Pierre et al v. Apple Inc, U.S. District Court, Northern District of California, No. Case 5:23-cv-05981.
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