"Hey, there's no need to sue, try not to do this Apple thing."
A lawsuit filed in the District Court of California against Apple has alleged that the giant firm entered into anti-competitive agreements with its competitors in the iOS Peer-to-Peer Payment (P2P) market.
Reportedly, Apple has reached an agreement with PayPal Venmo, Block Cash App and Google Pay to restrict the use of decentralized cryptocurrency technology in their payment applications.
The streak, four users including Venmo and Cash App who have to pay inflated fees following Apple's trade restrictions across the iOS P2P payment market have filed a lawsuit against the firm for violating United States (US) antitrust laws.
Following Apple's use of technological and contractual restrictions to exercise unrestricted control over every application installed or run on the iPhone including the iPad, the user demands the same consent from any iOS P2P payment product as a prerequisite of entry.
This is because no new entrants have taken part when Apple Cash, Venmo and Cash App have continuously raised transaction and service fees in recent years.
Apple has removed all decentralized blockchain-based P2P services from its platform that try to introduce new features and competition in the market, therefore Apple is required to stop entering into anti-competitive agreements.
Not only that, Apple should also separate the Apple Cash business from its other operations to avoid users from facing problems in P2P payments.
The claim is an important development in the ongoing debate about the future of digital asset and mobile payments as it could significantly impact consumers, businesses and the crypto market.
