The U.S. Federal Reserve is taking legal action against Bitcoin Magazine in an attempt to silence criticism of its recently launched FedNow interbank clearing and settlement service.

In a letter sent to the publication by the Federal Reserve Bank of Chicago, the central bank of the United States is claiming that Bitcoin Magazine merchandise that parodies its services are not protected speech, but rather an unauthorized infringement of its image and trademarks.

The dispute centers around the use of the FedNow Service image and trademark in a line of merchandise sold by Bitcoin Magazine that seeks to criticize the surveillance capabilities of the FedNow system, and how it threatens American…

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