Cryptocurrency and Blockchain organizations in Switzerland[1], Kazakhstan[2], and Armenia have recently joined those of Russia[3], China[4], and South Korea[5] in filing a joint lawsuit against major Internet companies for banning crypto-related advertising, local Russian news outlet RNS reported[6] Friday, April 6.
The plans to file the joint lawsuit against tech giants Google[7], Twitter[8], and Facebook[9] were first revealed[10] on March 27. The organizations originally filing the complaint include the Russian Association of Cryptocurrency and Blockchain (RACIB), the Korea Venture Business Associations, and LCBT, a Chinese association of crypto investors.
According to Yury Pripachkin, the president the RACIB, the new members of the joint lawsuit include such associations as Swiss InnMind[11] fintech[12] firm, the Armenian Blockchain Association, and the Kazakhstan Blockchain and Cryptocurrency Association.
The joint lawsuit is set to be filed in May 2018 in New York[13]. Funds for lawyers are to be collected on a digital wallet registered in Estonia[14], Pripachkin noted.
On Jan. 30, Facebook banned advertiserments related to cryptocurreny and Initial Coin Offerings[15] (ICO), citing “misleading or deceptive promotional practices.” In March, Google followed the move by announcing[16] it woukd begin blocking crypto-relared ads of all types in June 2018. At the end of March, Twitter confirmed[17] that it will also ban crypto-related ads, such as ICOs, cryptocurrency exchanges and wallet services, unless they are public companies.
Recently, Johnl McAfee[18], a software engineer and very prominent figure in the cryptocurrency community, disclosed[19] that he charges $105,000 per tweet
