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0 sats \ 0 replies \ @Imyourfed 27 Nov \ on: Legal status of the word "Bitcoin"? bitcoin
The word Bitcoin isn’t trademarked because Bitcoin is decentralized—there’s no single person or organization in charge that could claim ownership or enforce a trademark. For something to be trademarked, there needs to be a specific entity to register and protect it. Bitcoin is open-source protocol under the MIT License, which makes it free for anyone to use. Plus, the term Bitcoin has become so widely used and generic, like email or internet, that most legal systems wouldn’t allow it to be trademarked anyway.
If someone try to sell fake coins or products and called them Bitcoin they could get in trouble for lying to people. This is called fraud or misrepresentation. Laws protect consumers from being scammed and organizations like the FTC (in the U.S.) can take action. example- if someone promised Bitcoin but sold something fake or unrelated, they could face fines or lawsuits.But enforcing this can be tricky. as Bitcoin doesn’t have any central organization, there’s no official group that can step in to defend its name. Instead, it would usually be up to individual buyers who’ve been deceived to take legal action, or possibly companies involved in Bitcoin services (like exchanges or wallets) if they feel their business reputation is being harmed by the misuse of the term.