Tuesday, January 26, 2021
Bitcoin Market News
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
Bitcoin Market News
No Result
View All Result

Google, Facebook, Twitter Face Class-Action Lawsuit for Banning Crypto Ads | Bitcoin

6 months ago
in Cryptos
3 min read
Google, Facebook, Twitter Face Class-Action Lawsuit for Banning Crypto Ads | Bitcoin
Share on FacebookShare on Twitter

Related articles

Russia Prohibits Government Officials From Owning Crypto, Must Dump Holdings by April

Russia Prohibits Government Officials From Owning Crypto, Must Dump Holdings by April

January 26, 2021
Grayscale Donating up to $2M to Crypto Advocacy Group Coin Center

Grayscale Donating up to $2M to Crypto Advocacy Group Coin Center

January 25, 2021


Google, Facebook, Twitter Face Class-Action Lawsuit for Banning Crypto Ads

Cryptocurrency businesses are taking Google, Facebook, and Twitter to court in a class-action lawsuit that could cost the social media giants $300 billion. The plaintiffs say that their businesses have been hurt by Google, Facebook, and Twitter banning crypto ads on their platforms.

Google, Facebook, and Twitter Taken to Court Over Crypto Ads Ban

Cryptocurrency companies and individuals are taking Google, Facebook, and Twitter to court over the banning of their cryptocurrency ads from Jan. 30, 2018, to the present. The class-action lawsuit is being filed by Sydney-based law firm JPB Liberty.

The plaintiffs claim that their businesses have been harmed when the three social media giants all banned cryptocurrency advertising in 2018 within weeks of each other. Google then reversed the ban for regulated exchanges in Japan and the U.S. in September 2018. However, the plaintiffs argued that there were not many regulated exchanges at the time.

Under Section 45 of the Competition and Consumer Act, Australia prohibits any “arrangements, understandings or concerted practices that have the purpose, effect or likely effect of substantially lessening competition in a market, even if that conduct does not meet the stricter definitions of other anti-competitive conduct such as cartels.”

The law firm explained that “A class action will be brought in the federal court of Australia against the social media giants’ Australian subsidiaries and parent companies for breaches of the Australian Competition and Consumer Law,” elaborating:

The class action will seek damages for worldwide losses of crypto industry members and investors. The announcements of the crypto ad ban by the respondents dropped crypto markets by hundreds of billions of dollars. Crypto exchange volumes also dropped by 60-90%.

JPB Liberty added that the three social media giants together “control a very large percentage of the online advertising market (over 66% of 2018 US digital ad revenue & over 80% of social media ad revenue).” The ban on their popular platforms — including Google, Facebook, Instagram, Twitter, Whatsapp, and Youtube — severely hurt the way crypto businesses acquire customers.

The suit currently has $600 million worth of claims but could grow to $300 billion, according to reports. The case has been put before a senior barrister for review.

The law firm is seeking more claimants to join the lawsuit. “Anyone worldwide who was adversely affected by the crypto ad ban announcements” has a claim and can join the class action lawsuit. They include anyone holding cryptocurrency in 2018, from Jan. 28 to Dec. 31, or later in limited cases. “Persons holding a steem or hive cryptocurrency on chain wallet at any time” also qualify, as are Mt. Gox creditors and owners of crypto businesses, exchanges, wallet providers, ICO projects, miners, and advisors.

What do you think about this lawsuit against Google, Facebook, and Twitter? Let us know in the comments section below.

Image…



Read more:Google, Facebook, Twitter Face Class-Action Lawsuit for Banning Crypto Ads | Bitcoin

Tags: AdsBanningBitcoinbitcoin news todayClassActionCryptoFaceFacebookGooglelawsuitTwitter

Related Posts

Russia Prohibits Government Officials From Owning Crypto, Must Dump Holdings by April

Russia Prohibits Government Officials From Owning Crypto, Must Dump Holdings by April

by Bitcoin Market
January 26, 2021
0

The Russian Ministry of Labor has reportedly banned government officials from owning and using cryptocurrencies. Officials have also been...

Grayscale Donating up to $2M to Crypto Advocacy Group Coin Center

Grayscale Donating up to $2M to Crypto Advocacy Group Coin Center

by Bitcoin Market
January 25, 2021
0

TipRanks3 Top Dividend Stocks With Growth Opportunity; Goldman Sachs Says ‘Buy’Investing is all about finding profits, and investors have...

Crypto-Related Crime Fell To $10 Billion In 2020

Crypto-Related Crime Fell To $10 Billion In 2020

by Bitcoin Market
January 25, 2021
0

Share Tweet Share Share Share EmailCryptocurrency-related crime fell in 2020, according to a blog post from Chainalysis.In 2019, criminal...

Bitstamp implements tighter KYC measures for crypto withdrawals in the Netherlands

Bitstamp implements tighter KYC measures for crypto withdrawals in the Netherlands

by Bitcoin Market
January 24, 2021
0

Bitstamp implements tighter KYC measures for crypto withdrawals in the Netherlands The Block Crypto Read more:Bitstamp implements tighter...

The race is on yet again for crypto ETFs as Valkyrie files registration

The race is on yet again for crypto ETFs as Valkyrie files registration

by Bitcoin Market
January 23, 2021
0

In a move that may give seasoned investors flashbacks to 2018, Valkyrie Digital Assets is the latest asset management...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

December 11, 2020
Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

December 21, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

December 4, 2020
The Most Secure Cryptocurrency Wallets for Different Users

The Most Secure Cryptocurrency Wallets for Different Users

November 1, 2020
Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

Google Bans Crypto Ads: No Currencies, ICOs, Exchanges, Wallets, Advice

January 26, 2021
Millenials Prefer Bitcoin Over Gold, But it it Still Extremely Unequal, Study Finds

Millenials Prefer Bitcoin Over Gold, But it it Still Extremely Unequal, Study Finds

January 26, 2021
Grindr Fined in Europe Over Sharing of User Data: Live Business Updates

Grindr Fined in Europe Over Sharing of User Data: Live Business Updates

January 26, 2021
While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine

While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine

January 26, 2021
Bitcoin gyrates 10% as crypto market stays volatile

Bitcoin gyrates 10% as crypto market stays volatile

January 26, 2021
Bitcoin price seen topping $50,000 over long term as it vies with gold

Bitcoin price seen topping $50,000 over long term as it vies with gold

January 26, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com


    Warning: Invalid argument supplied for foreach() in /home/marketforbitcoin/public_html/wp-content/plugins/cryptocurrency-pricing-list/inc/ccpw_frontend_ticker.php on line 162