RATE Group | Czech Central Bank Prepares Fine For Calling Physical Bitcoins ‘Coins’
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Czech Central Bank Prepares Fine For Calling Physical Bitcoins ‘Coins’

04 Nov Czech Central Bank Prepares Fine For Calling Physical Bitcoins ‘Coins’

Posted at 09:59h in Bitcoin News by

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Bitcoin (BTC) friendly Czech crypto-anarchist movement Paralelní Polis has received a warning from the country’s central bank for issuing its own coins.

Central bank fine “completely nonsensical”

As representatives reported on Twitter on Nov. 3, the Czech National Bank (CNB) has objected to Paralelní Polis using the term “coin” to describe commemorative silver tokens it is currently minting.

In 2018, a new law appeared giving sole rights to the word “coin” to the CNB. 

“Czech National Bank sent us an official threat that if we continue to use the word ‘Mince’ (‘Coin’) on our site, we will be fined. The bank claims to have a #Monopoly on the word,” the Twitter post reads.

Speaking to local media outlet Seznam Zprávy, Martin Leskovjan, the group’s chairman, described the situation as “completely nonsensical.”

“We’re calling the coin a coin,” he summarized. 

Government falls out of love with crypto

Since 2014, Paralelní Polis has become a

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