The social media firm Meta has been designated as a terrorist and extremist group by Rosfinmonitoring, also known as the Federal Financial Monitoring Service.
The social media firm Meta has been designated as a terrorist and extremist group by Rosfinmonitoring, also known as the Federal Financial Monitoring Service. An entity called Meta, formerly known as Facebook, has been included in a list of groups engaged in terrorism and extremist activities.
Russia had previously asserted that Meta belonged to an extreme group. Facebook, Instagram, and other social media websites like Twitter were all blocked in Russia. WhatsApp was nevertheless accessible. After Russia's prohibition, Meta appealed in a Moscow court. Their appeal, though, was turned down.
Why Meta Was Banned in Russia
Meta Platforms Inc. allegedly committed acts of terrorism against the cryptocurrency market, according to Russia. Additionally, it stated that the Meta was practising "Russophobia." State prosecutors asserted that Meta permits people from other countries to commit violent crimes against Russians. Additionally, they asserted that Meta was consciously sowing discord against Russia and Russian residents.
Additionally, they asserted that Meta was silencing any voices that supported Russia following its war on Ukraine. All of these accusations were refuted by Meta, who also appealed, but it was rejected.
However, experts asserted that Russia's prohibition of social networking sites is an assault on the right to free speech. They asserted that Russia is attempting to regulate information flow and is suppressing any opposition. Social media has become a crucial forum for opposition to Russia.
How the Ukraine-Russia War Affects the Crypto Market
The cryptocurrency market and the larger general market currently have a high degree of correlation. The stability of the world economy has been jeopardised by the Russia-Ukraine conflict. Russian sanctions may have a negative effect on the world economy. The skyrocketing inflation rates, however, are the most significant effect.
US President Joe Biden has consistently attributed the US's skyrocketing inflation rates to Russian President Vladimir Putin. Since Russia's invasion on Ukraine, energy prices have increased sharply. The need for the central banks to implement quantitative tightening has caused the global stock market to crash.
