Internet Giants are going to be Sued by Three more Countries for Banning Crypto Ads
According to the reports, Cryptocurrency and Blockchain organizations in Switzerland, Kazakhstan, and Armenia have recently joined those Russia, China, and South Korea in filing a joint lawsuit against major Internet firm for prohibiting crypto-related advertisements.
The idea of filing the joint lawsuit against tech giant Google, Twitter, and Facebook was announced on March 27. The firms would be fining the complaint include the Russian Association of Cryptocurrency and Blockchain (RACIB), the Korea Venture Business Associations, and LCBT, a Chinese association of crypto investors.
Yury Pripachkin, the president the RACIB, says that the new members of the joint lawsuit will be including associations such as Swiss InnMind fintech firm, the Armenian Blockchain Association, and the Kazakhstan Blockchain and Cryptocurrency Association.
Pripachkin revealed that the joint lawsuit would be filed in May 2018 in New York. Funds for lawyers will be collected on a digital wallet in Estonia.
Recently, Twitter, Google, Facebook, MailChimp, Google Adwords announced they are going to ban Cryptocurrency and ICO related advertisements. Coindelite published that Global Cryptocurrency Groups has Planned to Prosecute Google, Facebook for Banning Advertisements.
Meanwhile, Pripachkin said:
“We think these four companies are using their monopoly power and have colluded to manipulate the market. You know, every state has different laws. Some states, like Wyoming for example, have been fair towards cryptocurrencies.”