January 09, 2014 07:59:51 GMT
West is upset after learning that an anonymous group of seven web developers is going to launch a digital currency called 'Coinye' which is inspired by the rapper's name and likeness.
Kanye West's legal team has issued a cease-and-desist letter against an anonymous group of seven web developers who created a digital currency called "Coinye West". Kim Kardashian's fiance is against the plan after learning that the bitcoin-style currency's name and image feature his likeness.
In a letter dated January 6, West's lawyer cited copyright infringement. "Given Mr. West's wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services," wrote Brad Rose, a partner at Pryor Cashman LLP, as quoted by Wall Street Journal.
West's legal team asked people behind Coinye not to use the name or its variation and West's likeness on the image. The lawyer also asked them to delete Coinye's Facebook and Twitter account and hand over the website. If they didn't comply, the lawyer would "notify the cryptocurrency community at large of your infringing actions and pursue all legal remedies against any business that accepts the purported COINYE WEST currency."
The group of seven entrepreneurs, however, moved up the cryptocurrency's release date to Tuesday night, January 7 "due to legal pressure." In addition to changing the name from "Coinye West" to "Coinye", the group changed the site's domain. "We want to release this to the public before the man can try to crush it. They'll still come after us, but that's OK," one of the coders said in a Skype text interview on Monday night.