The European Union is gearing up to issue a hefty fine against tech giant Apple over alleged anti-competitive practices in the music streaming market. 

According to a recent Financial Times report, the EU is set to slap Apple with a 500 million euro (approximately $539 million) fine, with the penalty expected to be announced in early March.

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• EU expected to fine Apple 500 million euros for alleged antitrust violations.

• The​ ​fine ​relates ​to App ​Store ​rules ​restricting ​developers ​from ​mentioning ​​other ​payment ​options​.

• Regulators ​believe ​Apple is ​abusing ​power ​over ​app ​makers​, ​​stifling ​competition​​.

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EU Poised to Fine Apple 500 Million Euros for Alleged Competition Law Breaches

This ​impending ​sanction ​stems ​from an ​antitrust ​investigation ​launched ​by ​the ​European ​Commission ​last ​​year​. 

The ​​Commission ​took issue ​with ​App ​Store ​rules ​that ​restrict ​developers ​​from informing ​users ​about ​alternative ​payment ​options outside ​Apple’s ​in-app ​purchasing ​system​​.

The App Store requires that apps offering digital content or services rely exclusively on Apple’s payment system for in-app subscriptions and purchases. 

This allows Apple to collect a 15-30% commission on those transactions. 

The ​Commission ​believes ​these ​stringent ​rules unfairly ​limit ​consumer ​choice ​and ​stifle ​​​innovation.

Spotify, the market leader in music streaming, spearheaded accusations claiming that the App Store commission gives Apple Music an unfair advantage. 

Understandably, Spotify resents having to cough up a portion of its subscription revenue when Apple Music faces no fee.

The​​ ​brewing EU ​fine ​indicates ​regulators agree ​that Apple ​is ​abusing its ​position ​of power ​over ​app developers​. 

However​, ​Apple maintains that its ​App Store ​guidelines ​are ​​fair and ​claims the ​Commission’s ​case ​is ​baseless​. 

​It ​insists that its ​rules ​apply ​evenly across ​all developers ​and ​that ​the App ​Store ​greatly benefits ​consumers ​and ​creators ​alike​.

​This ​isn’t Apple’s ​first ​run-​in ​with EU ​antitrust ​authorities​. ​

In 2016, the tech titan was ordered to repay 13 billion euros in back taxes linked to illegal state aid it received in Ireland. 

More recently, Apple agreed to let third-party payment processors operate in the Netherlands to comply with another order.

With fines into the billions looming over its head, Apple faces intense regulatory pressure to open up its typically closed ecosystem. 

The ​company ​finds ​​itself caught ​between ​appeasing ​regulators ​and ​maintaining the ​stringent ​control ​that ​has enabled ​its ​​success.

How Apple will respond once the 500 million euro penalty becomes official remains to be seen.