Home News Russian entrepreneur sues Google for crypto ads ban

Russian entrepreneur sues Google for crypto ads ban

Russian entrepreneur Vladimir Orekhov has filed a lawsuit against Google in connection with the corporation’s intention for introducing new regulations presupposing cryptocurrency-related advertisements banning. The suit was filed at Zamoskvoretsky Court in Moscow. The claimant believes that this ban poses a threat to his cryptocurrency ATM business.

Orekhov is the founder of cryptocurrency ATM network in Russia. His project is still under development at the moment. The entrepreneur envisages supplementing his network with a mobile wallet, a payment platform and decentralized exchange.

He is now engaged in attracting investments into his project, whereas the ban that was recently announced by Google would deprive them of the access to potential investments. In addition, Orekhov will face challenges in promoting his startup.

He insists that the measures taken by Google are illegal and infringe his right to information. Thereby, he argues for the cancellation of announced ban.

Orekhov, who planned launching his ICO in June 2018 (that is, the exact same time when Google’s prohibition is to come into effect) claims that he will suffer ₽2 000 000 000 loss of profit, should Google fulfill its promise to ban all cryptocurrency-related ads.

Google did not come up with any comments on the matter yet.

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