3 ms·

> Apple's agreements limit "feature competition" within peer-to-peer payment apps, including prohibiting existing or new platforms from using "decentralized cry

> Apple's agreements limit "feature competition" within peer-to-peer payment apps, including prohibiting existing or new platforms from using "decentralized cryptocurrency technology," the complaint said. > The lawsuit seeks an injunction that could force Apple to divest or segregate its Apple Cash business > The plaintiffs in the new lawsuit alleged Apple, Venmo and Cash App "have repeatedly raised prices for transactions and services with no competitive check." > They argued that a peer-to-peer app based on "decentralized" crypto technology "would allow iPhone users to send payments to each other without any intermediary at all." > The lawsuit said Apple has excluded from its App Store at least two Bitcoin wallet apps, Zeus and Damus, which is backed by Block founder Jack Dorsey. If I understand the claim correctly, the plaintiffs are arguing that Apple is colluding with Paypal and Cashapp to restrict cryptocurrency wallet apps from the App Store, which drives up the cost of p2p payments? Good luck I guess.

codetrotter 3y ago
I don’t understand what argument that is. On my iPhone I have: - Kraken Pro app, where I can buy and sell bitcoins - Ledger Live app, which I use with my hardware Ledger device for my self custody Bitcoin Using these two apps, I can buy Bitcoin, sell Bitcoin, and transfer Bitcoin to anyone using my iPhone. What is it that Apple is preventing these people from doing? If I want to send Bitcoins to you, we don’t need that Apple allows Venmo or other “peer to peer” payment apps to use cryptocurrency. Those kind of companies are irrelevant for that goal anyways. All we need is that you either have an account on an exchange, or a self-custody wallet, and I can send Bitcoin to you. All of this is possible using an iPhone.
- everfree 3y ago
  From the article: > They argued that a peer-to-peer app based on "decentralized" crypto technology "would allow iPhone users to send payments to each other without any intermediary at all." Kraken lets you access crypto that is held in custody by an exchange company. Ledger Live lets you access crypto that resides on a separate physical device. To the best of my reading, plaintiffs argue that Apple is preventing people from holding cryptocurrency on their iPhone. As in, the private keys are stored in the app's secure storage space, so the crypto is actually "in" the phone and not with a company or on a separate device. So to answer your question, that's what it seems plaintiffs are alleging that Apple prevents people from doing.
  - kstrauser 3y ago
    Trust Wallet does exactly thaf. TBH I have no idea what the plaintiffs are actually contending.
    - yieldcrv 3y ago
      you shouldn't trust Trust Wallet there have even been private key exposing bugs in it after the Binance acquisition too but yes, the conversation is about whether crypto wallets have been approved before in the app store, and that's true, its a seemingly tenuous relationship though
      - kstrauser 3y ago
        I don't. I have a Ledger hardware wallet now for the smidgen of Dogecoin that I hold onto for the fun of it. But I did have Trust Wallet for a little while, downloaded straight from the official App Store.
    - everfree 3y ago
      After reading the lawsuit more closely, it seems like they’re arguing that Apple rejects applications that include cryptocurrency features but weren’t submitted by regulated financial institutions. One of their examples was a social network app that was rejected for including a crypto tipping feature.
      - threeseed 3y ago
        > but weren’t submitted by regulated financial institutions This was detailed on an Apple support page for an app submission: Guideline 3.1.5 - Business - Payments - Cryptocurrencies Your app facilitates the transmission of a virtual currency but was not submitted by a corresponding exchange or recognized financial institution. Next Steps To resolve this issue, please provide documentary evidence demonstrating you have the necessary licenses and permissions to distribute an app with cryptocurrency exchange features in all the locations where your app is currently available.

codetrotter 3y ago

I don’t understand what argument that is. On my iPhone I have: - Kraken Pro app, where I can buy and sell bitcoins - Ledger Live app, which I use with my hardware Ledger device for my self custody Bitcoin Using these two apps, I can buy Bitcoin, sell Bitcoin, and transfer Bitcoin to anyone using my iPhone. What is it that Apple is preventing these people from doing? If I want to send Bitcoins to you, we don’t need that Apple allows Venmo or other “peer to peer” payment apps to use cryptocurrency. Those kind of companies are irrelevant for that goal anyways. All we need is that you either have an account on an exchange, or a self-custody wallet, and I can send Bitcoin to you. All of this is possible using an iPhone.

everfree 3y ago
From the article: > They argued that a peer-to-peer app based on "decentralized" crypto technology "would allow iPhone users to send payments to each other without any intermediary at all." Kraken lets you access crypto that is held in custody by an exchange company. Ledger Live lets you access crypto that resides on a separate physical device. To the best of my reading, plaintiffs argue that Apple is preventing people from holding cryptocurrency on their iPhone. As in, the private keys are stored in the app's secure storage space, so the crypto is actually "in" the phone and not with a company or on a separate device. So to answer your question, that's what it seems plaintiffs are alleging that Apple prevents people from doing.
- kstrauser 3y ago
  Trust Wallet does exactly thaf. TBH I have no idea what the plaintiffs are actually contending.
  - yieldcrv 3y ago
    you shouldn't trust Trust Wallet there have even been private key exposing bugs in it after the Binance acquisition too but yes, the conversation is about whether crypto wallets have been approved before in the app store, and that's true, its a seemingly tenuous relationship though
    - kstrauser 3y ago
      I don't. I have a Ledger hardware wallet now for the smidgen of Dogecoin that I hold onto for the fun of it. But I did have Trust Wallet for a little while, downloaded straight from the official App Store.
  - everfree 3y ago
    After reading the lawsuit more closely, it seems like they’re arguing that Apple rejects applications that include cryptocurrency features but weren’t submitted by regulated financial institutions. One of their examples was a social network app that was rejected for including a crypto tipping feature.
    - threeseed 3y ago
      > but weren’t submitted by regulated financial institutions This was detailed on an Apple support page for an app submission: Guideline 3.1.5 - Business - Payments - Cryptocurrencies Your app facilitates the transmission of a virtual currency but was not submitted by a corresponding exchange or recognized financial institution. Next Steps To resolve this issue, please provide documentary evidence demonstrating you have the necessary licenses and permissions to distribute an app with cryptocurrency exchange features in all the locations where your app is currently available.