Czech Central Bank prepares fines for using the word “coin”

Czech Central Bank prepares fines for using the word “coin”

Regulators
November 4, 2019 by cryptorolling.com
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The Czech group of crypto enthusiasts called Paralelní Polis received a warning from the Central Bank of the country demanding that they stop issuing their own coins.
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According to representatives of Paralelní Polis, the Czech National Bank (CNB) requires a startup to stop using the word “coin” to describe the silver collector’s badge that it issues.

Each coin depicts one of the three prominent members of the cryptographic community: Ross Ulbricht, Julian Assange, and Aaron Schwartz.

It is worth noting that in 2018, the Czech government published a law that makes CNB the sole owner of the word “coin”.

The startup’s tweeting notes that it is the only law that makes CNB the sole copyright holder for the word “coin”:

The Czech National Bank has sent us an official threat demanding that we stop using the word “Mince” (coin) on our website. Otherwise we will have to pay fines. The bank declares that it has a monopoly on the word.

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