Alibaba Group Holding Ltd. said it will take further action after a U.S. judge refused to block Dubai cryptocurrency firm Alibabacoin (ABBC) Foundation from using its name. Alibaba failed to show a “reasonable probability” that Alibabacoin’s websites were used to conduct business with customers in New York, according to a U.S. district judge in Manhattan, Reuters reported.
An Alibaba spokesperson told Caixin that the tech giant “will be submitting a new motion,” as the legal ruling merely “was with respect to jurisdiction. We are confident we will be able to put an end to this willful, concerted and unlawful scheme by the ABBC Foundation to exploit Alibaba Group trademarks.”
The statement re-emphasized that ABBC is not affiliated with Alibaba. ABBC did not respond to Caixin’s immediate request for comment. But in April, the Dubai company told Caixin that it was not infringing on the trademark or intellectual property held by Alibaba.