Coinbase Faces Crypto Patent Case Amid Dwindling Trade Volumes latest News


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Coinbase has now been sued for patent infringement on crypto transfer technology, amid deteriorating trading volume on the exchange. In a complaint filed on Thursday, Veritasium Capital accused Coinbase of patent infringement. Veritaseum is a company that creates blockchain-based, peer-to-peer capital markets in software form. It alleged that Coinbase’s operations infringe on Veritasium’s intellectual property rights.

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Coinbase Patent Case – What’s the Problem?

In the complaint, Veritasium alleged that the crypto exchange was infringing on the rights to make, use, sell, sell and import products and services in the US. In short, the company accused Coinbase of infringing on a patent that was granted Veritasium founder Reggie Middleton, The patent was granted to the founder in December 2021 to ‘Devices, Systems, and Facilitates Low Trust and Zero Trust Value Transfer’.

It was issued legally to the inventors, Middleton and Matthew Bogosian. In addition, the patent was duly and legally assigned to Middleton and then specially licensed to Veritizium. The company, in its complaint, accused Coinbase of potentially infringing patents in full detail. The defendant had prior knowledge, should have known, or was at least willfully blind to the patent, it noted.

Investig reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong supporter of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him here [email protected]

Coinbase Faces Crypto Patent Case Amid Dwindling Trade Volumes latest CryptomarketBagCoinbase Faces Crypto Patent Case Amid Dwindling Trade Volumes latest CryptomarketBag

The material presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for your personal financial loss.



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