Russian Firm Fails in Attempt to Patent ‘Bitcoin’

Russian Firm Fails in Attempt to Patent ‘Bitcoin’

In an attempt to patent the term ‘Bitcoin’ in Russia, a Moscow-based firm called M-Group filed an application at the Russian patent office. The application was duly rejected.

Rospatent, the Russian patent agency has recently confirmed the rejection of an application by a Moscow-based firm which filed a patent request to trademark ‘Bitcoin.’

According to local publication Rapsinews, the firm, known as “M-Group” requested the patent agency to trademark the term bitcoin in relation to the 36th and the 38th International Classification of Goods and Services for Finance and Telecommunications, respectively.

For its part, Rospatent duly denied the patent request for a trademark, firstly explaining that declared designation for the patent – ‘bitcoin’, unsurprisingly draws a parallel to an electronic payment system powered by a virtual currency of the same name.

Notably, the patent authority also recognized that the Bitcoin platform was developed in 2009 by Satoshi Nakamoto and Gavin Anderson, explaining the same to the filing firm M-Group. Additionally, Rospatent also added that the cryptocurrency ‘Bitcoin’ was already in circulation long before

Read more ... source: TheBitcoinNews


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