Russian Lawsuit Filed Against Google's Crypto Ads Ban

Following Google’s decision to ban all cryptocurrency-related advertisements, a lawsuit has been filed against the company by  local Russian tycoon Vladimir Orehov who is demanding a 2 billion ruble compensation from the Russian Google entity 000 <<ГГyЛ>>. He asserts that the ban will deprive him of chances to invest in crypto projects and find investors to fund his own business initiatives.
Earlier this week, Google had announced its plans of restricting advertisements of cryptocurrencies and content related to Initial Coin Offerings, crypto exchanges, wallets and crypto trading advice. The new guidelines will be implemented by June 2018 according to
The lawsuit against Google was filed under the grounds of “moral damage” caused by the ban and demands for it to be lifted. It was filed with the Zamoskvorechye District Court where the press secretary confirmed that the lawsuit was registered on March 15.
Vladimir Orehov is a businessman who invests in cryptocurrency projects and has his own idea which needs funding. He has also been developing a network of crypto ATMs with a decentralized exchange, a mobile wallet and a crypto payment system. He had initially been planning to conduct an ICO with a pre-sale in June and was hoping to attract a total of $2 million dollars through this. He has grievances because he claims he lost potential investors due to the ban.

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