UK Tribunal Orders Apple to Pay £1.5bn Over App Store Fees
UK’s Competition Appeal Tribunal ruled Apple abused its dominance by charging standard App Store fees of 30% from 2015–2020, exceeding fair market rates by 12.5%. Plaintiffs led by Dr Rachael Kent estimate damages of £1.5bn (approx $2bn), half passed to users. Apple plans to appeal, citing security and innovation, with a permission hearing scheduled next month to set damages. This first major UK class action against Big Tech could reshape App Store fees and competition rules globally, affecting distribution and costs for crypto trading and wallet apps on iOS. Developers and users should watch for policy changes that might lower in-app fees and boost competition in crypto app markets.
Neutral
This antitrust ruling focuses on App Store fee structures rather than any specific cryptocurrency. It may lower costs for crypto apps on iOS over time, potentially boosting app usage, but has no direct bearing on the price of any cryptocurrency. Short-term trading is unlikely to be affected, and long-term impacts on blockchain ecosystems remain speculative. Therefore, the net effect on crypto prices is neutral.