US DOJ Files Lawsuit Against Apple Over Unfair Rules Targeting Crypto Apps

cryptonews.com:

The Department of Justice (DOJ) and 16 state and district attorneys general have filed a civil antitrust lawsuit against Apple, accusing the tech giant of monopolizing or attempting to monopolize smartphone markets in violation of Section 2 of the Sherman Act.

Apple, a publicly traded company headquartered in California, generated significant revenues in fiscal year 2023, surpassing those of many countries’ gross domestic products.

BREAKING: Justice Department sues Apple, accusing it of monopolizing the smartphone market.

"We allege that Apple has employed a strategy that relies on exclusionary anti-competitive conduct that hurts both consumers and developers," AG Garland says. https://t.co/bcBl2CiWmJ pic.twitter.com/ha4FjfSBzA

— NBC News (@NBCNews) March 21, 2024

According to the lawsuit filed  in the US District Court for the District of New Jersey, Apple is accused of illegally controlling the smartphone market by imposing restrictive contracts on developers and limiting their access to essential points. 

This allegedly prevents the development of crypto apps, products, and services that could reduce dependence on iPhones, promote compatibility with other platforms, and lower costs for consumers and developers.

The DOJ alleges that Apple uses its dominant position to extract more money from various parties, such as consumers, developers, artists, and small businesses. The US attorney general, Merrick Garland, stated in a press conference on Thursday,

“Apple has maintained its power not because of its superiority but because of its unlawful exclusionary behavior. Monopolies like Apple threaten the free and fair markets upon which our economy is based.”

According to the DOJ , Apple’s policies have unfairly