Laws filed in Russia against Google’s ban on cryptocurrency ads. A lawsuit has been filed against Google in Russia after Google announced restrictions on cryptocurrency-related ads. Entrepreneur Vladimir Orehov demands compensation of 2 billion rubles from Google. Vladimir Orehov claims that the ban will deprive him of opportunities to invest in crypto projects and investors to finance his own business ventures.
Google’s ban on cryptocurrency ads sparks backlash in Russia
Google ‘s decision to limit the content of cryptocurrencies and advertising sparked a reaction in the Russian Federation. According to media reports, a businessman in Russia is filing a lawsuit against Google, which operates in Russia, over Google’s ban on cryptocurrency ads.. In this case, Vladimir Orehov claims that he missed business opportunities and therefore would lose money. Vladimir Orehov insists on receiving compensation for his outstanding earnings of 2 billion rubles (almost $35 million). He said he would block it. Vladimir Orehov seeks compensation for “moral damage” caused by ban. He also insists that Google’s ban be lifted. The case was filed in the Zamoskvorechye District Court. The press secretary confirmed that the case was filed on March 15.
The ban negatively impacts Russian crypto entrepreneurs
Earlier this week, Google has been involved with ICOs, cryptocurrency exchange, wallet and cryptocurrency trading. announced plans to restrict ads for related content. Google states that the new rules will be implemented until June 2018. The policy change came weeks after Facebook issued its ban on cryptocurrency ads.
Vladimir Orehov said that he has invested in cryptocurrency projects and has ideas waiting to be supported. Vladimir Orehov is developing a crypto ATM network with a Russian-language mobile wallet and a crypto payment system. It also tried investing in ICOs with a pre-sale in June. Vladimir Orehov hoped to raise a total of $2 million in capital through the ICO.
The ban violates the right to access information
Vladimir Orehov complains of losing access to potential investors “overnight” due to the impending ban . He says he lacks useful information about the restrictions on ICO ads and other businesses selling tokens to him. Vladimir Orehov insists that this ban creates missed opportunities for “promising investments” and will affect his future income. Vladimir Orehov also thinks that the ban is illegal and violates his right to access information.
“I do not act like Google and rush to make such decisions.”
About legal action in Moscow The news comes after State authorities calls to restrict advertisements in exchange for cryptocurrencies . Mikhail Emelyanov, the first Deputy Chairman of the Parliamentary Legislation Committee, thinks that banning cryptocurrency ads is not worth it. Despite his distrust of cryptocurrency, he believes people should have the right to choose. Also, Mikhail Emelyanov added the following words to his description:
So I don’t act like Google and rush into making such decisions.. Many people will suffer from cryptocurrency trading, but that doesn’t mean cryptocurrency ads should be banned altogether.. We shouldn’t always ban everything. People have the ability to think and choose.. He also pointed out that they should not blame government agencies in the event of a failure.