Social networks will face lawsuits for banning cryptocurrency advertising

A group of representatives of cryptocurrencies from Australia, is preparing a lawsuit against different social networks such as Google, Facebook and Twitter.

Everything indicates that due to the measures applied by these networks, the entrepreneurs have been harmed in the development of their businesses.

According to the plaintiffs, the losses are estimated at approximately $ 600 million, because the advertising platforms do not allow information related to cryptocurrencies.

The complaint will be filed by JPB Liberty, which explained that it will go to the Australian federal court. Its objective will be to sue the parent companies of Google, Twitter and Facebook, as well as their Australian subsidiaries for violation of the defense of free competition and consumer protection, as indicated by the aforementioned media.

Brian Bishko, an attorney for the firm that will represent the plaintiffs, said that with the ban on crypto-related ads, small blockchain platforms like Hive were also affected.

“Back then, Hive was called Steem. It was growing and growing and suddenly they couldn’t advertise on Facebook or get new users”, Bishko explained.

K. Tovar

Source: agencies