Russian cyber money advocates are going to sue technological titans for banning advertising, related to digital assets.
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The Russian Association of Cryptocurrencies and Blockchain (RACIB) on par with branch associations in Asia (including China and Korea) intend to file a joint suit against Facebook, Google, Twitter as well as Yandex (which is more popular in Russia). All these giants have taken a hardline stance on cyber money ads on their platforms.
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Formally, the respected documents are expected to be filed by the end of this year spring – in May. As per Russian news agency TASS, this information was announced by the leader of RACIB – Yuri Pripachkin.
The crypto-personality recently took the floor at the cong “Blockchain RF-2018,” concerning distributed ledgers and related technologies in the Russian Federation.
According to his Pripachkin’s words, the simultaneous reaction of world’s top communication and tech Goliaths can be a conspiracy. He emphasized that all four companies notified about their decisions to block crypto-ads not long ago, whereas the most scandalous ban was the one, announced by Twitter. The last one, as Pripachkin said, it made a subscription to its own cyber-coin but banned all the others.
Therefore, he and his colleagues consider these actions as ones that had been planned in the cooperation between four companies and have traits of a monopoly.
"We believe that this is the use of the monopoly position of the four companies that entered into a cahoot with each other to manipulate the market,” claimed Pripachkin.
He also added that the actions of the companies, mentioned above, led to a considerable decline in the market of virtual assets within the past months.
Therefore, the only solution to the issue, according to RACIB’s head, is to sue not only these four companies but also their shareholders who possess cyber wallets.