Apple Faces DOJ Lawsuit: What Lies Ahead?

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The U.S. Department of Justice filed a lawsuit against Apple Thursday, accusing the company led by CEO Tim Cook of engaging in anti-competitive business practices. The allegations include claims that Apple prevents competitors from accessing certain iPhone features and that the company’s actions impact the “flow of speech” through its streaming service, Apple TV+. This is not the first time Apple has faced legal action from the DOJ. In 2012, the agency sued Apple for conspiring with publishers to increase ebook prices, a lawsuit that was not settled until 2016. Morgan Stanley analysts said Friday that the current lawsuit could also favor Apple, as many similar allegations have already been ruled on by a judge in the Apple vs Epic case, with the ruling stating that Apple does not violate antitrust laws.

Coinbase advocates for dismissal of SEC’s allegations of securities violation

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Coinbase, one of the largest crypto exchanges globally, bit back on Wednesday during a hearing to decide whether it committed securities violations. The U.S. Securities and Exchange Commission filed the suit in June 2023, just one day after it sued Binance, the largest crypto exchange by volume, over securities matters. In the SEC’s claims against Coinbase, it also alleged that the 13 cryptocurrencies available for trading on the exchange were securities. Although separate, the Binance suit also had 12 crypto assets mentioned as securities. The judge requested that the securities-focused agency explain what elements of crypto assets constitute investment contracts.