Home Coins BitShares (BTS) BitShares Copyright infringement claim vs. 'New BitShares'

[Legal Notice] BitShares Copyright infringement claim vs. ‘New BitShares’

Recently a BitShares copyright infringement occurred when a group of holders, lead by Twitter (Bue) launched a fork of the blockchain using the name ‘New BitShares’ with malicious intention of destroying reputation of original chain (e.g. prior to split-fork, Binance has reported that was contacted by same group to ask Binance to migrate BitShares gateway to their software release instead of original one from BitShares GitHub repository. Luckily with help of reasonable Chinese holders, technical side of BitShares development, legal and Binance itself, that was just an attempt of event).

We have to bring this notice publicly on request of the trademark owner and BitShares.org domain holder Move Institute (non-profit, Slovenia).

No permission was sought in using the trademark, neither was the project endorsed by any BitShares founding or core members. On the contrary, `New BitShares` is launched as a “fix” for broken consensus on original BitShares, while it’s just illegal refinance scheme by group of holders.

They also listed the token on several exchanges with the abbreviated token name $NBS. BitShares trademark violations are illegal by rule of law in Europe and beyond, as defined by the EUIPO listing.

As such, ‘New BitShares’ exists and was started as intentional copyright infringement and attack to the brand of `BitShares`.

Additionally, EUIPO is legally binding by several bilateral and cooperation intellectual property initiatives in other non-EU countries.

euipo website
See the EUIPO website for more info

Move Institute will be in contact directly with the businesses concerned. Listed below (for reference only) are the affected exchanges and domains/websites.

Legal course of actions

Exchanges

By listing NBS token under the name ‘New BitShares’, exchanges will be notified of the BitShares trademark violations. As registered businesses, they will receive formal notice by email/fax and legally binding notices to this effect. As per Coinmarketcap list includes Binance, MXC, Huobi, BigOne, Biki, ZB.com, ZBG, WazirX, and few others.

Domains

Domain owners and their respective registrars – for websites falsely representing BitShares will also be contacted for unlawful use that is not falling just under Intellectual property area but as well to ICANN violations in general. Most importantly, this applies not only to the EU, but any locations the website is accessible from, and covered by EUIPO or it’s mutual agreements.

Domains include newbitshares.org (intentional copyright infringement, SEC violation of initial offering through airdrop, no legal, spreading miss-information about Brand), dpos.club (posts removal), btsgh.com (intentional copyright infringement, spreading miss-information about Brand), and nbs.plus(intentional copyright infringement,spreading miss-information about Brand)

Additional SEC related concern: newbitshares.org as legal representative of the blockchain project should be by nature owned by non-profit company/organization. In the past, bitshares.org as originally given to APAsia Tech Co., LTD. was for the same reasons moved away to Move Institute as non-profit legal representative. In case of `New BitShares` project and website newbitshares.org – owner registered is for-profit Beijing Monelolita Clothing Co., Ltd. who is not even related to IT – far from crypto industry.

All related accounts and IP’s are collected from the BitSharesTalk for further legal actions if necessary.

Conclusion

BitShares blockchain and software derivates around/from it, are open source software where in addition to other features, anyone can create and name a cryptographic token or even replicate entire technology. However clear rules and laws outline global usage of trademarks are saying that you can’t “clone” actual Brand of “BitShares”. As a result, general international business law and common sense tells us it is fraudulent to knowingly use a registered trademark without permission. Thus all legal, trademark, copyright or other types of practicalities are also entirely the responsibility of the issuer/user. Move Institute, (Slovenia) are managing BitShares trademark violations.

Examples of definition for trademarks in crypto (for your own interest compare to classes and submission of our trademark – we are one class away and one class advanced for filling in US/International trademark):

Useful Notes

Fraud Awareness

If you’re concerned for any social media accounts, companies, brands or even individuals claiming to be ‘from BitShares’, or otherwise utilizing the ‘BitShares’ name or logo that doesn’t appear endorsed, please contact us.

Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,551FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.17
GBP
1.29
CHF
1.09
NOK
0.11
JPY
0.01
CAD
0.75
AUD
0.71

Most Popular

The New Direction of Blockchain Development: Measuring Off-chain Assets | by Qtum | Oct, 2020

Hello everyone, I am Patrick Dai, the founder of Qtum. The topic of my speech today is “The New Direction of Blockchain Development:...

The First Crypto Currency Auto Finance Company in the U.S.

Available now with Crypto Cars Online Dallas/Fort Worth, Texas— October 26, 2020 — Crypto Cars Online announced immediate availability of purchasing vehicles with crypto currency,...

Chinese city seeks to power urban governance and more using blockchain tech

Authorities in Chengdu, China plan to adopt blockchain for several use cases throughout the city, including urban governance, cross-border trade, smart manufacturing, and...

Here’s why Ethereum bulls don’t care about Friday’s $40M ETH options expiry

In the last few days Bitcoin (BTC) price rallied within a hair of the $14,000 level and Ether (ETH) followed with a similarly strong...
bitcoin
Bitcoin (BTC) $ 13,422.76
ethereum
Ethereum (ETH) $ 385.41
ripple
XRP (XRP) $ 0.240346
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 265.91
bitcoin-cash-sv
Bitcoin SV (BSV) $ 164.81
litecoin
Litecoin (LTC) $ 54.46
eos
EOS (EOS) $ 2.61
binancecoin
Binance Coin (BNB) $ 28.98
okb
OKB (OKB) $ 4.58
tezos
Tezos (XTZ) $ 1.87
leo-token
LEO Token (LEO) $ 1.27
cardano
Cardano (ADA) $ 0.092612
monero
Monero (XMR) $ 120.93
stellar
Stellar (XLM) $ 0.076592
chainlink
Chainlink (LINK) $ 11.15
huobi-token
Huobi Token (HT) $ 4.19
tron
TRON (TRX) $ 0.026262
usd-coin
USD Coin (USDC) $ 0.998651
dash
Dash (DASH) $ 66.39
neo
NEO (NEO) $ 14.90
iota
IOTA (MIOTA) $ 0.252525
nem
NEM (XEM) $ 0.096344
zcash
Zcash (ZEC) $ 56.48
maker
Maker (MKR) $ 525.97
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 5.31
vechain
VeChain (VET) $ 0.010166
true-usd
TrueUSD (TUSD) $ 0.998716
ftx-token
FTX Token (FTT) $ 3.78
kucoin-shares
KuCoin Shares (KCS) $ 0.849972
waves
Waves (WAVES) $ 3.02