Update: Leaders in Six Countries Suing Internet Titans for Banning Cryptocurrency Ads

Blockchain and cryptocurrency organizations in at least six countries are joining together in a lawsuit against some of the world’s largest companies to fight new restrictions on cryptocurrency advertising.

Groups in Switzerland, Armenia and Kazakhstan are joining the movement that started in Russia, China and South Korea late last month. The legal action is expected to be filed in New York in May by the newly formed Eurasian Blockchain Association. Here’s the full list of entities now involved:

• Russian Association of Cryptocurrency and Blockchain
• Chinese Association of Cryptocurrency Investors
• Korea Venture Business Association
• Innmind, a Swiss company
• Armenian Association of Developers and Users
• Kazakhstan Blockchain and Cryptocurrency Association

Facebook announced the first big ban on all cryptocurrency advertising on January 30, citing a desire to protect its users from scams or deception.

Google then announced its own ban on crypto ads, followed by Twitter, LinkedIn and MailChimp.

 

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