According to the news in TASS, crypto money and Blockchain associations in Russia, China and South Korea are preparing to file a joint lawsuit in May against Google, Twitter, Facebook and Yandex, which ban cryptocurrency-related ads.
Facebook banned all ads related to cryptocurrencies in late January. Google announced this month that it will implement a similar ban that will come into effect in June. Twitter has also banned cryptocurrency ads, following Facebook and Google. Finally, Yandex is expected to take preventive measures in this regard.
The head of the Russian organization RACIB, which is involved in the lawsuit to be filed against four social media and technology giants, Yury Pripachkin, said that these companies negatively affect the crypto money market:
“We believe this is the use of the monopoly position of these four companies that have cartel agreements with each other to manipulate the market. The bans imposed by these four companies have led to a significant drop in the market in recent months.”
The associations established the Eurasian Blockchain Association to support and formulate the case, to create a fund.
Meanwhile, Pripachkin said that the case will be filed in the USA.