Newly Founded Blockchain Association To Sue Facebook & Co for Banning Crypto Ads
Facebook, Google, Twitter and Yandex imposed bans on ads associated with cryptocurrencies and ICOs. The move is expected to give their legal departments a new task with multiple cryptocurrency firms from Russia, China and S. Korea planning to sue .
After meeting in Moscow, the affected cryptocurrency companies have formed a new Eurasian Blockchain Association (EBA) and agreed to file a lawsuit in a US court against the internet giants.
When Will It Happen?
The court case will be filed in May before a US jurisdiction judge, and it will be sponsored by a unique cryptofund which is established in the aforementioned Congress in Moscow.
Lawyers will have the last say regarding the jurisdiction when the complaint is filed. As quoted by RIA Novosti, Yuri Pripachkin commented, “Some states such as Wyoming have been fair on cryptocurrency matters.”
“The concurrent denial to advertise digital currencies could mean there was cartel collusion.” Said Yuri Pripachkin, RACIB president as quoted by Interfax and Tass. “We think these four big firms are utilising their monopoly command to come together and manipulate the market,” Yuri Pripachkin added. “He also pointed that the ads ban led to huge market drops over the last months.”
Ban Wave Begun With Facebook
The social network, Facebook banned cryptocurrency related adverts in January to secure users from different ICO scams, Ponzi schemes, fraudulent token sales and similar cases.
Also, Twitter has commenced adverts on ICOs including their token sales and cryptocurrency wallet platforms which are not publicly catalogued on major stock exchanges. The globe’s biggest search engine, Google has announced to follow the footsteps.
As reported in March, the updated financial services policy of Google prohibited all cryptocurrency adverts from using its Adwords service starting June 2018. Once more, consumer security is touted as the key driving issue behind the move.
This will go no where... these corporates are in the faith of governments and no government likes its fiat rival been decentralized and in hand of people
@honarparvar True. Judging by the trend of crypto lawsuits, they won't succeed. They also cannot force Facebook, Google etc to endorse crypto ads. Think they should go for other options.
Crypto will be on facebook (if facebook survives!)
Amazon will accept crypto (if Amazon stays in the market!)
it is said: the survival of the fittest. adaptability is the key
@honarparvar Yah, will be survival for the fittest.
I will appreciate if you check my last post on this issue too
your comments and time means a lot to me :)
@honarparvar Let me check.
We the blockchain people, should just #deletetwitter and #deletefacebook. Why still addicted or being dependent on these social and mental draculas? Just get out of it.
If someone can create CryptoKitties, if it's hard to create a Steemit, then surely someone can create another form that is outside of these corporations.
Can't wait still EOS launches, that is supposed to be a system that will be easy to create apps / games / sharing tech.
@tuventure At least we can see other good alternatives being launched. You can also check Sociall
security is a powerful weapon. whoever he would be afraid of losing or being sacrificed, however small. this is often used, including google (read your post above). furthermore that many out there are also not afraid of the risk (hard core type) they just focus on the vision. usually they will succeed. hopefully
@yusfriadi I agree security cannot be ignored.