January 23, 2021

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

Czech Central Bank prepares fines for using the word "coin"

A Czech group of crypto enthusiasts called Paralelní Polis received a warning from the country's Central Bank with demand to stop issuing their own coins.

According to representatives of Paralelní Polis, CzechThe National Bank (CNB) requires a startup to stop using the word “coin” to describe the silver collection token that it issues.

Each coin depicts one of three well-known representatives of the crypto community: Ross Ulbricht, Julian Assange, and Aaron Schwartz.

It should be noted that in 2018 the Czech government issued a law that makes CNB the sole copyright holder for the word “coin”.

On a startup’s twitter:

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

According to the materials cointelegraph.com