Infamous Australian entrepreneur Craig Wright has filed a lawsuit against cryptocurrency exchanges Coinbase and Kraken for trading “fake bitcoin”.
Ontier law firm representing Craig Wright, the self-proclaimed “creator of Bitcoin”, April 29 filed lawsuits against trading platforms Coinbase and Kraken. The plaintiffs allege that these and other exchanges encourage traders to trade bitcoin by passing it off as another digital asset. According to Ontier’s lawyers, the cryptocurrency known as BTC is actually just the “core of Bitcoin,” and the only cryptocurrency that fully implemented the original Bitcoin protocol should be considered the “modified” crypto asset BSV (Bitcoin Satoshi Vision).
Wright argues that “misrepresentation” by Coinbase and Kraken has led to confusion among investors and traders about the authenticity of the crypto assets they buy and sell. The plaintiffs are seeking an injunction to prevent exchanges from offering trading in bitcoin, as well as from “improperly” using its mark or name.
“These actions change the rules of the game in the cryptocurrency market. If BTC does not strictly conform to the original Bitcoin protocol, it cannot be called Bitcoin, nor can it be traded or referred to as such. Crypto asset owners need to know exactly what they are buying. Bitcoin has always been designed as a peer-to-peer electronic payment system, not as a store of value,” said Ontier attorney Simon Cohen.
Recall that at the beginning of last year, Wright accused the sites bitcoin.org and bitcoincore.org of copyright infringement, demanding that they remove the Bitcoin White Paper from their sites. The administrator of Bitcoin.org under the pseudonym “Cobra” refused to do this, and the case went to court. Six months later, the London court unsubstantiated recognized Wright’s rights to this document. The court ordered that Cobra remove the Bitcoin White Paper from its website and pay Wright his legal fees.
Source: Bits
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