Federal Reserve Bank Warns Huobi of Trademark Infringement on FedNow, Bitcoin Magazine: Won't Back Down

Bitcoin Magazine is selling a range of clothing on its website featuring the logo of the real-time payment system "FedNow," with the slogan "End FedNow." This move has drawn warnings from the Federal Reserve, but Bitcoin Magazine is standing firm and refusing to remove the related trademarks.

The Federal Reserve's real-time payment system FedNow officially launched, with 57 companies including New York Mellon starting to provide services

Chicago Fed: Unauthorized Use of FEDNOW Trademark

A letter from the Chicago Federal Reserve to David Bailey, CEO of Bitcoin Magazine, pointed out that the FEDNOW trademark is registered by the Federal Reserve and that the Federal Reserve not only owns FEDNOW but has also built a significant reputation for it since its launch.

Financial institutions and consumers typically associate the FEDNOW logo with the Federal Reserve.

The Chicago Fed believes that the sale of apparel such as hoodies with the FEDNOW trademark by Bitcoin Magazine could lead to confusion and potentially fraud. Therefore, they have requested Bitcoin Magazine to immediately cease all use of the FEDNOW logo anywhere.

Bitcoin Magazine: Refuses to Remove

The official response, "Federal Reserve Threatens to Sue Bitcoin Magazine," stated that the use of FEDNOW images and trademarks aims to criticize the surveillance capabilities of the FEDNOW system and its threat to American citizens' freedom.

The article mentioned:

Although we have received a cease-and-desist notice, we refuse to comply. We will not be intimidated by your attempts to suppress criticism. Our readers are deeply concerned about the FEDNOW system, which we believe may not only be unconstitutional but also threatens the freedoms cherished by all American citizens.