A law firm representing the crypto entrepreneurs and investors who claim their business was severely affected by the ban is now taking the tech giants to court in Australia. This is following the offensive crypto advertising ban by Google and its video-sharing site YouTube, Facebook, and Twitter.
The report about the legal claim that could wind up costing the tech organizations as much as $300 billion has pulled in prosecutors with $600 million worth of cases, even though this sum may develop further as more individuals join the claim, the Daily Mail Australia provided details last Sunday.
The no-win, no-expense case, sorted out by Sydney-based law office JPB Liberty, is supported by institutional prosecution funders, funding reserves, and “ideologically aligned investors,” the article said.
As indicated by JPB Liberty’s site, the firm is “investigating other potential Class Actions to protect the Cryptocosm” against the two banks and controllers.
The current legal claim against the said tech giants are also announced on the firms site. Any individual or organization who believes they have been affected by this ban can sign-up for the claim.
The notorious crypto ad ban by big tech companies Google, Facebook, and Twitter were all initiated following the craze circling initial coin offerings (ICOs) in late 2017 and early 2018. In May of 2019, nonetheless, Facebook relaxed its position on crypto by recognizing ads linking blockchain technology, events, stories, and particular informative content. Google newly unlocked their doors in October 2018, when it supported regulated exchanges to announce their assistance.