A month ago, huge names like Google, Facebook, Yandex and Twitter banned the digital currency advertisements that made disturbance in the digital money market and community.
This set off a legal action by a local Russian businessman that filed a lawsuit against the Russian-registered Google entity. Vladimir Orehov, the businessman claims that this ban is illicit and abuses his rights as he is losing business opportunities that can bring about likely money loss.
It has been only an individual trying to recover his lost money. Nonetheless, a couple of the major associations from worldwide are wanting to fight the crypto ads ban by Google and other enormous companies head-on.
Allegedly, The Russian Association of Cryptocurrency and Blockchain as a team with the Korean Ventura Business Association and LCBT (Chinese crypto investors’ association) have joined the forces to make a group called Eurasian Blockchain Association that will be protecting the interest of crypto investors.
The organization would begin with filing a joint lawsuit against Google, Facebook, Yandex and Twitter for banning the crypto ads.
Yuri Paripachkin, the head of the Russian association amid the “Blockchain RF-2018” conference in Moscow elucidated:
“Google, Twitter, Facebook and Yandex banned the advertising of crypto-currencies in their networks. [This has caused] special indignation within the crypto community. We believe that this is the use of the monopoly position of the four companies that entered into a cartel with each other to manipulate the market. The ban on these four organizations led to a significant drop in the market in recent months.”
The Eurasia Blockchain Association is building up a crypto fund that anybody can add to and this fund “will be the initiator of the lawsuit” against Google and different companies. The lawsuit would be filed in one of the US states that will be against the companies as well as their shareholders on the off chance that they do possess digital currencies as expressed by Paripachkin:
“We believe that if it turns out that the shareholders or managers of these companies own cryptos, which they use for personal gain, using the capabilities of their companies, they are subject to prosecution.”
Concerning the date, the blockchain association has chosen to bring the lawsuit the US court in May. The reason being, in June Google, plans to bring its crypto related advertising advertisements over the greater part of its platforms without hesitation.
No further declarations have been made by the association, however, in the event that the lawsuit brings about a positive outcome, it can be useful for the crypto community.