Bitcoin Magazine has claimed that it has been threatened with legal action by the United States Federal Reserve over its use of the word “FedNow” on merchandise. The Federal Reserve has accused the publication of trademark violations and sent a cease-and-desist letter. Bitcoin Magazine’s merchandise features the word “FedNow” with the “O” replaced by an image of an eye. The Federal Reserve claims that this misleads readers into believing there is a connection between the publication and the central bank. Bitcoin Magazine’s legal team has responded by stating that the merchandise is parodic in nature and constitutes protected free speech under the First Amendment. Bitcoin Magazine has criticized the Federal Reserve’s FedNow system, calling it a “scam” that allows the government to control businesses and individuals. Presidential candidates Ron Desantis and Robert Kennedy, Jr. have also criticized FedNow, claiming it paves the way for a future central bank digital currency that violates privacy. The Federal Reserve denies any connection between FedNow and a central bank digital currency.
