Cryptocurrency and Blockchain associations in Switzerland, Kazakhstan, and Armenia have recently joined those of Russia, China, and also South Korea in filing a joint lawsuit against major Internet companies for banning crypto-related advertising, neighbourhood Russian news outlet RNS as reported in April.
The strategies to file the joint suit against tech giants Google, Twitter and Facebook were revealed on March 27. The associations initially filing the complaint include the Russian Association of Cryptocurrency and Blockchain (RACIB), the Korea Venture Business Institutions, and LCBT, a Chinese association of crypto investors.
Three More Countries Join Planned Lawsuit Against Internet Giants For Banning Crypto Advertising In accordance with Yury Pripachkin, the president that the RACIB, the new members of this joint litigation include such associations including Swiss InnMind fintech company, the Armenian Blockchain Association, along with also the Kazakhstan Blockchain and Cryptocurrency Association. On Jan. 30, Facebook prohibited advertisements associated with cryptocurrency and Initial Coin Offerings (ICO), mentioning “misleading or deceptive promotional practices.”
Back in March, Google adopted the movement by announcing that it would begin blocking crypto-related advertisements of all types in June 2018. At the end of March, Twitter affirmed that it will also prohibit crypto-related ads, like ICOs, cryptocurrency exchanges and wallet solutions, unless they are public companies.
Recently, John McAfee, an applications engineer and also very prominent figure in the cryptocurrency community, disclosed that he requires $105,000 per tweet to advertise cryptocurrency endeavours and associated goods, despite earlier denying that his promotional tweets were paid.
The combined suit is set to be submitted in May 2018 in New York. Funding for attorneys must be collected on a digital wallet registered at Estonia, Pripachkin mentioned.