Crypto world plans to fight back with plans to sue Twitter, Facebook over ad ban

Cryptocurrency figures from around the world are teaming up with plans to sue Google, Twitter, Yandex and Facebook over their recent advertising bans.

The Russian Association of Crypto-Currency and Block-Finish (RACIB) along with industry associations in Korea and China are behind the suit, which they plan to file in May, and claims collusion.

Together, the group has formed new organisation the Eurasian Association of Blockbearers.

According to RACIB head Yuri Pripachkin, Twitter has caused “special indignation at the crypto community” after making a subscription available for its own cryptocurrency but banning others. This refers to the decision by Twitter not to ban advertising from crypto exchanges registered and licensed to operate by the Financial Services Agency.

If shareholders at these companies are found to own crypto, they could be open to prosecution, Pripachkin added.