Russia, China and South Korea are preparing to sue Facebook, Google, Twitter and Yandex for deciding to ban digital currency ads.
At the end of January, Facebook announced that it would ban misleading and deceptive advertising on Google crypto money in March. In the past days, Twitter has confirmed that it will ban ICO and token sales ads. According to some reports, Yandex is expected to take his own measures on crypto money ads in the near future.
Among the associations suing these four popular social media giants are the Russian Crypto Money and Blockchain Community (RACIB), the Korean Enterprise Community and the Chinese Crypto Money Investors Association (LCBT).
Yal Pripachkin, President of RACIB, explained at the Blockchain RF-2018 conference in Moscow on March 27-28,
"These four companies believe that they are using their monopoly power to manipulate the crypto money market. These companies have caused significant declines in the market in recent months."
Associations in Russia, China and South Korea are aiming to create a charity fund to support the case. Yury Pripachkin explained that everyone involved in the local media organs could benefit from this aid. Pripachkin also pointed out that the case would be opened in the US state of Wyoming for a loyal attitude to the crypto paralysis . In the past two months, Wyoming courts have made some legislation in order to exempt income from cryptographic funds from taxation and to mitigate the regulations imposed by crypto paralysis.!