An Israeli company dealing in cryptocurrency is suing Facebook for 500 billion dollars after its was banned form advertising its product on the social media platform.
An Australian litigation company, organised by Israelis, is suing Facebook, Google, and Twitter for $500 billion after the tech giants merged to effectively ban all cryptocurrency ads from the platforms.
The company, JBP Liberty, is waging a class action lawsuit on behalf of members of the cryptocurrency industry and holders of cryptocurrency against Facebook, Google, and Twitter for breach of the anti-cartel provisions of Australia’s Competition and Consumes Act 2010.
In January 2018, Facebook announced its new policy blocking any advertising promoting crypto-currency products and services to protect the integrity of its advertising platform.
Under Facebook’s own “Prohibited Financial Products and Services” Policy from 30 January 2018, Project Libra would have been prohibited from advertising.“Turns out, America doesn’t really have the right laws. But, in Australia this is a legal cartel to restrict the supply of an essential product,” JBP Liberty spokesman explains in a video announcing the suit. “We are going to sue Facebook, Google and Twitter for half a trillion dollars – that $500,000,000,000. This isn’t a joke.”
video courtesy of Avi Yemini