Eurasian blockchain Association sues Facebook, Twitter, Yahoo and Google

Eurasian blockchain Association sues Facebook, Twitter, Yahoo and Google

As reported TASS the blockchain and cryptocurrency Association in Russia, China and South Korea plan to file in may a joint action against Google, Twitter, Facebook, and Yandex for the fact that these companies have banned advertising of cryptocurrency-related projects.

In late January, Facebook announced a ban on advertising associated with digital currencies, citing “deceptive advertising practices”, which, according to Facebook use cryptocurrency projects. Google announced a ban on the advertising of cryptocurrency projects in early March, although the ban will actually take effect only in June. And in the beginning of this week to ban and joined Twitter. According to local media reports, Yandex also intends to introduce a ban on the advertising of cryptocurrency projects.

To court these companies served: Russian Association of cryptocurrencies and blockchains (RACIB), Korean venture business Association and the Chinese Association of captainvalor (LCBT).

Yuri Pripachkin, President of RACIB, said at the conference Blockchain-RF 2018, held in Moscow from March 27 to March 28, that the actions of these four companies had a negative impact on the cryptocurrency market:

We believe that this use of the monopoly position of these four companies signed a cartel agreement with each other to manipulate the market. Ban these four organizations led to a significant decline in the market in recent months.

The organization has created the Eurasian Association blockchain to create a Fund to support the formulation of the claim. According to local news Agency RIA Novosti, Pripachkin said that anyone can join this cription. Pripachkin said that the lawsuit will also be filed against the shareholders and management of these companies, if it turns out that they are a cryptocurrency investors:

We believe that if you find that the shareholders and managers of these companies hold funds in bitcoin which they use for personal gain, using the position of their companies, they are subject to prosecution.

The lawsuit will be filed in the United States, as Pripachkin noted that some States in the United States “loyal” to the cryptocurrency (e.g., Wyoming).

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