Crypto startup Don’t Know Your Customer has successfully averted a cybersquatting complaint filed by accounting giant Deloitte over its domain name.
Web3’s design and branding firm, Penultimate Media Systems, has registered DontKYC.com as its crypto client. DontKYC.com claims to be a non-profit community operated on the Binance Smart chain while offering prepaid cards that provide anonymity.
Deloitte does not approve of Domain Owners abbreviating their services as DKYC. websiteThe accounting firm argued that the disputed domain name was very similar to its own trademark because it used the acronym in the same format.
Deloitte even accused DKYC’s website of being illegal and highlighted its alleged damages from DKYC’s use of the disputed domain name. Accounting firm reputation.Accounting Firms Say Crypto Startups Are Facilitate anonymous financial transactions that directly contradict itself “I know youClient’s service on identification and traceabilityNumber of clients in the financial world.
In response to the charges, DKYC claims that it had no knowledge of Deloitte’s trademark and searched the US Patent and Trademark Office before registering the domain name.
As of May 6, 2022, the startup, now rebranded to ‘ShadowFi’, faces Deloitte’s accusations of illegal use of its domain name for money laundering and the It refutes by emphasizing the difference from everyday spending services.
The startup bridges decentralized finance (DeFi) and anonymous spending in the real world, operating on the Binance Smart Chain. “Invest in Binance Smart Chain (BSC) while funding your daily life. Our vendors don’t know who we are, nor do they know who you are. No ID required. Ever,” That website reads: