Facebook Faces Antitrust Suit Over Virtual Currency

Facebook is facing an actual lawsuit over virtual currency, with Austin, Texas-based Kickflip, which does business as Gambit, claiming that the social network violated antitrust laws with its entry into the sector and resulting terms.

Bloomberg reported that before Facebook introduced Facebook Credits and forced developers to use them exclusively, along with taking 30 percent of revenue, there were at least 20 virtual currency service providers in operation, including Gambit, adding in its complaint:

Facebook leveraged its dominance in the social game marketplace to control and dominate the separate market for virtual currency services. As the result of Facebook’s actions, Gambit’s business was destroyed.

According to Bloomberg, Kickflip is asking the court to prevent Facebook from enforcing its policies on virtual currency, as well as seeking unspecified damages.

Readers: Do you think Kickflip has a case?

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