Kanye West Moves to Stop 'Coinye West' BitCoin Competitor

01/08/2014
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(Radio.com) When we first reported on "Coinye West," a fledgling digital currency based on Kanye West that hopes to compete with the much-discussed Bitcoin, the founders of the company were appropriately wary of how the Yeezus rapper might respond to their idea.

"We're really not sure how Kanye is gonna react to this," they told Noisey.com, maintaining anonymity in case West wasn't into their proposed currency. "We hope he loves it, but if he doesn't, he really isn't someone we want to piss off."

Well, their fears were not unfounded, as the Wall Street Journal reports that lawyers representing West have issued a cease and desist order to the seven people behind the project, citing trademark infringement.

"Given Mr. West's wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services," attorney Brad Rose said in the lawsuit.

Instead of backing down, the coders behind "Coinye West" have chosen to carry on, changing the name of the digital currency from "Coinye West" to just "Coinye," moving the web domain registration to India and pushing up the launch date to as soon as last night (Jan. 7). more on this story

Radio.com is an official news provider for antiMusic.com.
Copyright Radio.com/CBS Local - Excerpted here with permission.

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