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Airbnb sues hometown of San Francisco

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Short-term rental company Airbnb has filed suit against its hometown of San Francisco.

The company seeks to block an ordinance set to take effect in late July that would require all Airbnb hosts to register with the city. Airbnb would be fined up to $1,000 a day for each listing if they do not.

The ordinance would require hosts to pay a $50 registration fee and submit the documents in person.

Airbnb contends the new rule violates the Communications Decency Act, Stored Communications Act and the First Amendment.

Read more from CNNMoney.

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