tl;dr
The US Department of Justice has filed a lawsuit against Apple, alleging that the company has monopolized the app market and hindered competition. This legal action, supported by 16 state attorney generals, has led to a 3.8% drop in Apple's stock price. The lawsuit also highlights how Apple's App St...
The US Department of Justice has filed a lawsuit against Apple, alleging that the company has monopolized the app market and hindered competition. This legal action, supported by 16 state attorney generals, has led to a 3.8% drop in Apple's stock price. The lawsuit also highlights how Apple's App Store policies restrict the functionality of crypto-based apps and raise concerns about the impact on the crypto and web3 ecosystem. US lawmakers have expressed concerns about the potential impact of Apple's App Store guidelines on blockchain and crypto innovations.
The DOJ has accused Apple of deploying its playbook across various app categories, including super apps, text messaging, smartwatches, and digital wallets, to maintain its market dominance. The lawsuit claims that Apple's strict App Store policies, including a 30% transaction fee, stifle innovation, and degrade the user experience. This has significant repercussions for the crypto and web3 sectors, as Apple's policies restrict the functionality of crypto-based apps on iOS devices. Additionally, US lawmakers have raised concerns about the potential impact of Apple's App Store guidelines on blockchain and crypto innovations, which could unfairly disadvantage web3 and game developers relying on cryptocurrency and NFTs for monetization.
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