Facebook and Google ban of crypto adds can result in legal consequences

After several major social media sites including Facebook, Instagram, Twitter and Google are beginning to ban all crypto advertisements. As a result, some of the crypto groups are beginning to answer this rather action. Although the intent may be to increase the security of the average person, it’s application heavily affects all ICO projects. Google ban rather heavily negatively at that.

Global cryptocurrency groups plan to Sue Facebook, Google ban, and other social media companies following them

The Russian Association of CryptoCurrency, Block-Finish (RACIB) and industry associations in Korea and China. All are coming together in an attempt to launch a successful counterpunch in this unfortunate situation. Combined will file suit in May against Google, Twitter, Facebook and Yandex for refusing to place cryptocurrency advertising. All of this was announced by Pripachkin at the Blockchain RF-2018 congress. Refusal to place the advertising constitutes collision.

Call for a new organization?

A new organization will soon emerge to include industry associations from Korea and China in the lawsuit – the Eurasian Association of Blockbearers. RACIB, Korea Venture Business Associations, and the Chinese association will create a fund and will file the suit in a U.S. state. The Suit will be filed not only against the organizations about their shareholders. If they and managers of these companies own cryptocurrencies which they use for personal gain, the shareholders are subject to prosecution.

Facebook and Google ban follows Twitter

Twitter joined the two giants in banning cryptocurrency and ICO-related advertisements from its website.

They confirmed its new policy, which includes all ads related to cryptocurrency exchanges and wallet services with an exception afforded to publicly listed companies listed on certain major stock markets. Twitter joining the ban will not apply to cryptocurrency exchanges registered and licensed to operate by the Financial Services Agency (FSA). 

Facebook added advertising related to ”binary options, initial coin offerings, or cryptocurrency.” under its policy ”prohibited financial products and services” earlier this year.

The worlds largest online advertising provider, Google, announced its ban on cryptocurrency advertising, which will come into effect this June.

Read the previous article: CO-FOUNDER OF THE SECOND LARGEST CRYPTOCURRENCY COMES TO SLOVENIA AT THE EUROPEAN BLOCKCHAIN SUMMIT 2018