1 year ago
According to Bitcoin Magazine, a media outlet dedicated to bitcoin quality launched successful 2012, representatives, including ineligible counsel, from the U.S. Federal Reserve person expressed concerns regarding the publication’s satirical Fednow merchandise. The Fed’s representatives asseverate that the parodied items, which carnivore the name, infringe upon its Fednow representation and trademarks.
Federal Reserve Challenges Bitcoin Magazine’s Parody Merchandise successful Trademark Dispute
On Friday, November 3, 2023, Mark Goodwin, the editor-in-chief (EIC) of Bitcoin Magazine, published a story claiming that representatives from the U.S. Federal Reserve had threatened the work with ineligible action. “The Federal Reserve alleges that Bitcoin Magazine utilized the trademark without support to mislead readers into believing a transportation exists betwixt the work and the cardinal bank,” Goodwin details.
The parodied items successful question encompass 9 Fednow items, including T-shirts, long-sleeves, sweatshirts, and hats featuring the name. The missive “O” successful Fednow incorporates an eye-like awesome wrong it, alluding to a vigilant fiscal eye.
Bitcoin Magazine refutes the allegations and has composed an unfastened missive addressed to the lawman wide counsel of the Fed’s Financial Services division. In the letter, the work informs the typical that the Fed mightiness find involvement successful its latest people publication, which “discusses the damages your policies person done to our system – and our country.” Regarding the petition to halt and desist, the EIC clarifies that Bitcoin Magazine volition not comply.
“We volition not beryllium intimidated by your efforts to soundlessness criticism,” Goodwin explains.
The work stresses that the company’s squad and its readers person been profoundly unsettled by the caller instauration of the Fednow interbank connection system. The EIC details that Bitcoin Magazine believes the Fed representative’s assertions are inaccurate. The steadfast emphasizes that it is actively exercising its First Amendment privileges for societal commentary and satire.
“I’m definite you’ll announcement the all-seeing oculus that symbolizes the authorities of full fiscal surveillance that your bureau is seeking to enforce connected the American fiscal system,” Goodwin’s missive states. The EIC adds:
With that successful mind, we judge it is good wrong our First Amendment rights to workout code connected the issue, and to that end, we volition beryllium defending our close to merchantability merchandise that makes buyers aware, done just usage imagery, our presumption that this strategy is simply a menace to civilian liberties.
To code this issue, the Fed is requesting that Bitcoin Magazine promptly and permanently discontinue its utilization of the Fednow mark, arsenic good arsenic immoderate different marks, names, oregon designations resembling the Fednow trademark. This includes but is not constricted to, immoderate exertion connected covering items oregon merchandise offered for sale, whether successful backstage oregon nationalist settings. The ineligible counsel subordinate requests that Bitcoin Magazine refrain from immoderate aboriginal usage of the Fednow mark.
What bash you deliberation astir the unfastened missive Bitcoin Magazine sent to the lawman wide counsel of the Fed’s Financial Services division? Share your thoughts and opinions astir this taxable successful the comments conception below.
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