China, Russia and South Korea to sue companies which banned crypto ads

The representatives of cryptocurrency and blockchain associations from South Korea, China and Russia have agreed to combine efforts in the future collective action against those companies which recently decided to either ban completely or restrict cryptocurrency advertisement.

Common interests shared by the the Chinese Association of Cryptocurrency Investors (LBTC), the Korea Venture Business Association (KOVA) along with the Russian Cryptocurrency and Blockchain Association (RACIB) have been documented on the recent conference in Moscow, Russia.

As claimed by the leader of one of three organizations (RACIB), companies like Facebook are using their market influence to slow down the development of the digital currency market and this is going to be reviewed in the American court. The plaintiffs have established a donation fund to ensure the stable work of lawyers.

Meanwhile in South Korea, reports on possible comeback of ICOs have not come true at the press time. Messages from China about the ICO ban being “temporary” have not been true as well, as it seems by now. In Russia, the ICO laws are pending implementation. Local authorities chose the active supervision approach instead of full prohibition.

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