Crypto publication Bitcoin Magazine has reportedly received a cease-and-desist letter from the United States Federal Reserve, accusing it of trademark violations. The publication claims that it is being targeted due to its use of the word “FedNow” on merchandise such as t-shirts and hats. The Federal Reserve alleges that these items mislead readers into believing a connection exists between Bitcoin Magazine and the central bank. Bitcoin Magazine’s legal team has responded by denying the allegation, stating that the merchandise is parodic in nature and created for the purpose of political criticism directed at the Federal Reserve. The publication argues that the items constitute protected free speech under the First Amendment and will continue to sell them. FedNow, launched by the Federal Reserve in July, has been heavily criticized by Bitcoin Magazine, which has referred to it as a “scam” that allows the government to control businesses and individuals.
