Cryptocurrency associations and businesses from Switzerland, Kazakhstan and Armenia have joined the initiative to sue Internet corporations over restrictions on crypto-related advertisements. The class action lawsuit will be filed in New York. Legal costs will be covered with funds raised through donations to a wallet registered in Estonia.
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Lawsuit to Be Filed In May
Organizations uniting cryptocurrency investors and blockchain companies from three more countries have supported the class action against internet giants banning crypto ads. The move was initiated by Russian, Chinese and South Korean crypto associations, as news.Bitcoin.com reported. During a conference in Moscow last month, they founded a new organization called the Eurasian Blockchain Association (EBA). EBA is tasked with asserting their interests on an international level.
Crypto communities from Switzerland, Kazakhstan, and Armenia have now joined its efforts to defend the rights of crypto businesses affected by the ban. Support came from the Swiss company Innmind, working to bring together startups and investors, the Armenian Association of Developers and Users, and representatives of the crypto sector in Kazakhstan.
EBA members intend to file the class action lawsuit against several large corporations which introduced restrictions on advertising of cryptocurrencies and related projects, like initial coin offerings. The social networks Facebook and LinkedIn, the search engines Google and “Яндекс” (Yandex), and the microblogging platform Twitter have imposed similar bans since the start of the year.
The case will be taken to court in the State of New York next month, Yuri Pripachkin, president of the Russian Cryptocurrency and Blockchain Association, told RNS. RACIB organized the BlockchainRF-2018 congress in
