Bitcoin Trademark Has Found a New Owner in Russia

One of the companies located in Russia plans and has started to the process to register Bitcoin and its graphical sign as its property.

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Bitcoin Trademark Has Found a New Owner in Russia

One of the companies located in Russia plans and has started the process of Bitcoin and its graphical sign registration as if it was the companies property. Success of this idea might bring a huge income to the initiator as the popularity of the cryptographic currency is growing among the population. Having no analogue and considering Yandex. Money platform as slightly different technology and payment method, many merchants have started to accept the coin for their products and services – mostly online. The rumors say that the idea belongs to Boris Bulochnik and is performed on his behalf by confidant person.

Boris Bulochnik was the owner of the recently closed by the Central Bank of Russia, Master Bank. The company was accused of violation of rules and lows of the country money laundering and some other financial crimes. Boris Bulochnik had 85% of Master Bank on hand. His wife Nadezsda Bulochnik was the Chair of Board of Directors, and their son, Alexander, is First Deputy Chairman. Some source of information name a cousin of Vladimir Putin, Igor, as one of the members of the board of directors, and formerly as Vice President. The couple was not taken in custody as they have simultaneously disappeared abroad.

Application for the trademark and sign was given in by the company “Intelprom”. Several companies in Russia hold this name, but the official register does not provide information that Mr. Bulochnik is on board. The registration is performed after the 36th class or insurance, financial activities, credit-money operations and real estate operations.

At the same time a textile manufacturing company is also aiming to be on time to register the trade mark and sign. The same logo – letter “B” in a circle – is prepared for application by the company “Patent Advisor”. The do not make the check of other application given in to the state patent office, but are sure that the request of Bulochnik might be denied and they always have a chance to prove their right in court. The textile company “M-Group” besides the 36th class of banking service is aiming to receive patent for the 38th group – telecommunications.

The experts believe that this action will have interesting consequences and overall influence of the digital finance market – ordinary private users will feel no pressure purchasing and selling bitcoins, but ones attempting to establish a coin-related business – exchange, mining, retail will have to pay for the use of the brand and sign. Elena Bocharova from Alfa-Bank sees that the currency has its appeal that hides in the basic principles of the system, but the low-developed market might suffer from violations and affairs. The registration of the mark also legalizes the bitcoin in the country enabling startups. The idea is very close to the comment publishes recently by the European Banking Authority. She also praises the idea to do it in advance – the procedure of receiving a patent is rather long and will ensure the safety of the mark in the closest future.

In Russia the establishment of the crypto currencies was observed by the Sberbank. Herman Gref was considering the possibility to create a similar currency using the experience of Yandex, the most popular searching engine of the country. Both activities might lead to early recognition of the money by the government in comparison to other countries, who have already opened their warnings.


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