3 months ago 1 min read

Bank of America Appears to be in For Trademark Dispute

bank of america-BofA-bitcoin bank-mike-kondoudis

A registered trademark attorney there, the USPTO has received a trademark application for the name "Bitcoin Bank America." The services for trading cryptocurrencies are covered under the U.S. trademark. A trademark dispute may be involving Bank of America.

According to the USPTO, the application was submitted on January 3 and the trademark was registered on December 27. Additionally, it demonstrated that no claim was made to have the exclusive right to use the name, other from the mark "Bitcoin Bank."

Kondoudis believes that Bank of America (BofA) may be embroiled in a trademark battle as a result of the most recent application. The registration could obstruct Bank of America's ability to offer bitcoin services in the future.

Some individuals believe that simply using the moniker "Bitcoin Bank" will shield BofA from a successful trademark case. The use of the term "Bank America" does, however, open the door for a potential legal attempt at infringement.

Bank of America has also submitted patent applications for blockchain and cryptocurrency services. In fact, Bank of America has been studying cryptocurrencies for years and has submitted patent applications for wire transfers, cryptocurrency trading platforms, and digital wallets.

In comparison to 2021 as a whole, the number of U.S. trademarks for NFTs and other blockchain products more than tripled in 2022. Between January 1 and September 30, there were more than 6,000 trademarks registered in the US.

Other significant financial service organizations, like American Express, Mastercard, and HSBC, have trademark registrations for services related to cryptocurrency.

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