US DOJ Files Lawsuit Against Apple Over App Store Monopoly: What's Next for Crypto?

The US Department of Justice (DOJ) has taken legal action against Apple Inc., accusing the tech giant of monopolizing the app market and impeding competition. This move could have significant implications, particularly for the crypto sector.

Apple Faces Lawsuit: Accused of Abusing Dominance Over iPhone Payment System

The lawsuit, filed in a New Jersey federal court on March 21, alleges that Apple's dominance in smartphones forces developers to use its payment system, subjecting them to a 30% tax.

Following the allegations, Apple's stock price experienced a 3.8% decline, reflecting investor concerns about regulatory challenges and market control issues.

U.S. Justice Department Criticizes Apple for Stifling Innovation and User Experience: Imposing High Fees and Strict Rules on Crypto Apps

The DOJ contends that Apple's policies stifle innovation and degrade user experience by imposing hefty transaction fees and enforcing restrictive rules across various app categories.

Apple's regulations have particularly affected crypto-based apps like OpenSea and Damus, limiting their functionality and prompting the removal of features such as Bitcoin tipping.

The decision to disable Progressive Web Apps (PWAs) on Apple devices raises concerns about its impact on the crypto and web3 ecosystem, potentially delaying market entry and increasing costs for developers.

Lawmakers eye Apple's App Store policies for their impact on crypto and blockchain, hope lawsuit spurs digital market change

US lawmakers Gus Bilirakis and Jan Schakowsky have previously raised concerns about Apple's App Store guidelines, fearing their adverse effects on blockchain and crypto innovations.

While the lawsuit against Apple signifies a step towards addressing monopoly concerns, its outcome remains uncertain. However, the crypto community awaits potential changes that could foster a more open and competitive digital marketplace.