Who owns the term- BITCOIN?

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Bitcoin (₿) is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator-Wikipedia

In December 27,2017, A.B.C IPHoldings South West LLC, a subsidiary of Monolip LTD applied at the UK trademark registry to acquire the “Bitcoin” trademark at a time in which the flagship cryptocurrency was close to its all-time high of nearly $20,000. Now the company has sent a cease and desist letter to a small business owner, who has been selling BTC-themed merchandise on the popular marketplace.

The letter stated that they must remove all Bitcoin-themed merchandise from their store, cancel new orders, recall all related products, and hand it over to the trademark’s owner, A.B.C IPHoldings South West LLC or face a trademark infringement lawsuit.

However it is doubtful as to whether the trademark registration would be enforceable as the term- BITCOIN can rightfully be considered as generic.

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