Alibaba Sues Dubai-Based Firm Over ‘Alibabacoins’
E-commerce giant Alibaba Group Holding Ltd. is taking Dubai-based cryptocurrency operator ABBC Foundation LLC to court in the U.S., arguing that the latter’s issuance of “Alibabacoins” infringes on the e-commerce giant’s trademark.
“We will aggressively pursue actions to protect our trademarks and put an end to this willful, concerted and unlawful scheme by the ABBC Foundation to exploit Alibaba Group trademarks,” according to a statement in response to Caixin’s questions on Wednesday.
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