The Czech National Bank has opposed the use of the term “coin” by the bitcoin-favorable Paralelní Polis movement. The group used the word to describe its commemorative silver tokens against which the central bank has issued a warning.
Paralelní Polis posted on twitter revealing the “official threat” posed by the bank stating that if the group continues to use the term “coin” on its site, they will be fined. The post informs how CNB claims to have a monopoly on the word.
[CZ article] 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. More about the project: https://t.co/9pyp9VWAby.#MINCEhttps://t.co/mil75EiD9n
— Paralelni Polis #HCPP19 (@Paralelni_polis) November 3, 2019
Martin Leskovjan, the group’s chairman, while in conversation with Seznam Zprávy, a local media outlet, has cited the situation and objection entirely “nonsensical.” He continued to stay firm on the group’s decision to call the token as coin and stated, “We’re calling the coin a coin.”
The silver tokens are the latest project and hold a value of 0.01 BTC ($92) through a collaboration with BitNotes, a physical currency startup. Every coin owns the image of one of three personalities who are prominent in the Bitcoin era – Ross Ulbricht, Julian Assange, and Aaron Swartz. As mentioned in a blog post, the project aims to pay homage to people who fought against the system and contributed to bringing internet freedom.