Two Trademark Lawsuits by/against Indian Crypto Exchanges
ZebPay and CoinSwitch Kuber are the two exchanges who have had to deal with Trademark infringements cases.
As the author of this newsletter, I vow to bring impactful stories to our beloved audience of founders, scholars, investors and journalists. A lot of times, the stories are exclusive, which fewer people are aware of. Today’s story is short, and there is a thing or two (pun intended) to learn. If you enjoy getting impactful news for the Web3 and Crypto industry in a consumable language, you should definitely subscribe.
Crypto exchanges in India are not just fighting regulators for their business operations, but also against other businesses who are either infringing on their trademarks or are accusing the exchanges of infringement.
Here are two cases I discovered of trademark infringement by/against Crypto Exchanges:
1. ZebPay Vs ZebApp
ZebPay is an Indian Cryptocurrency exchange which has had its share of ownership transferred several times since its inception in 2015. It is widely regarded as one of the most popular crypto exchanges in India. And someone tried to gain an advantage from its name.
ZebApp DeFi Ecosystem launched their ZEB Token. Obviously, the name did not set well with ZebPay and they dragged the founders of ZebApp to court.
Honourable Delhi High court actually issued an injunction on August 27, 2020, against ZebApp from using “Zeb Protocol”, “Zeb tokens”, and “ZebApp” as those are derivates of the “ZebPay” trademark that Awlencan Innovations India (ZebPay’s parent company) holds.
However, they had to petition once again in March 2021 to enforce this. Today, the social profiles and the website around ZebApp and its co-founders are no longer visible. There is just one website that still holds the data of ZebApp’s roadmap, their team and Whitepaper.
Same to say, ZebPay won.
2. Kuber Tobacco Vs CoinSwitch Kuber
In December 2021, Kuber Tobacco Products Pvt. Ltd. filed a trademark infringement suit against CoinSwitch Kuber. CoinSwitch Kuber is one of the largest cryptocurrency exchanges in India. According to reports, they are now gearing up towards building several wealth management products in non-crypto markets.
Kuber Tobacco alleges that they hold the trademark for the word “Kuber” since 1984 and that CoinSwitch only began to use it in October 2020.
The case is still pending in Delhi High Court with the next date of listing set to September 20, 2022.
On this note, let’s do a poll.
In addition to supporting independent journalism, here are the benefits to become a paid subscriber:
An exclusive Story of the week, just for paid subscribers
Access to Exclusive Videos one week before free subscribers
Exclusive QnA Sessions and Meet-ups
More benefits coming soon
In Other News:
Dismissing the claims by Cryptoleaks alleging that Ava labs had paid off the U.S. law firm Roche Freedman to attack its competitors thereby paying AVAX tokens and equity, its CEO Emin Gün Sirer named it as "conspiracy theory nonsense". Also, it had been revealed that Roche Freedman LLP was associated with a lawsuit against Solana Labs and Binance. Read more
Wall Street Journal's article brings says a 0.3% drop down in Tether's assets could manifest it as technically insolvent thereby turning down investors' confidence and stimulating redemptions. The comments by Tether CTO Paolo Ardoino indicate that the company is in a position for redemption, expecting the growth ahead, also they are determined to furnish monthly reports for substantial clarity. Read more
Sunday evening, rappers Eminem and Snoop Dogg staged at MTV's Video Music Awards undertaking the Yuga Labs Metaverse platform including the best metaverse platform category for the first time. The performances include cameos from the Kodas and acting done by the rappers. Also, animated versions of these rappers' spitting bars were demonstrated. The duo delivered the performance of their Best Hip-Hop Video-nominated duet “From the D 2 the LBC”. Read more