Cryptocurrency and blockchain industry associations of these countries supported Russia, China and South Korea in a class action suit against such social and searching media giants as Google, Facebook, Twitter and LinkedIn. They are accused of "cartel collusion" against cryptocurrency and ICO projects.

Cryptocurrency associations of Switzerland, Kazakhstan and Armenia supported the initiative of the Eurasian Association of Cryptocurrency and joined a group claim against search and social networks that imposed a ban on advertising digital currencies and ICO.

"Associations that unite crypto investors and blockchain enthusiasts and developers in Switzerland, Kazakhstan and Armenia, joined the lawsuit against the ban on the advertising of cryptocurrencies, imposed by somehow Google, Facebook, Twitter and LinkedIn," the president of the Russian Association of Cryptoсurrencies and Blockchain Yury Pripachkin said.

Speaking at a round table in the Chamber of Commerce and Industry of the Russian Federation in Moscow, Pripachkin said that the lawsuit will be filed in May in the district court of New York, USA. The claimant will be an unnamed Luxembourg-based crypto fund. Furthermore, class actions can be filed in other jurisdictions in the United States, including those states where heardquarters of Google, Facebook, Twitter and LinkedIn are registered.

According to the claim, the fact that the leading Internet companies simultaneously decided to ban advertisements of cryptocurrencies and ICOs is a sign of "cartel collusion" and abuse of monopoly position.