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Cryptocurrency News Today – Headlines for August 25

  • NPP Australia has sued Ripple Labs for alleged trademark infringement
  • The Blockchain network is facing an intellectual property lawsuit
  • The latest lawsuit against Ripple was filed in an Australian Federal Court

Cryptocurrency News Today – Yesterday Ripple Labs announced that the company has been hit with a fresh lawsuit. Unlike previous cases this time it isn’t about the question of XRP’s classification (either ad security) under the American law. NPP Australia has filed a lawsuit against Ripple Labs for the protection of the “PayID” trademark and intellectual property infringement.

The lawsuit was reportedly filed in the Federal Court of Australia at the New South Wales Registry on August 20. The report adds that the next hearing is scheduled for August 26. NPP Australia Ltd is the plaintiff. Rohan Pearce used his Twitter handle to draw the attention of the community to the development with Ripple.

NPP is Concerned with the Protection of PayID and Intellectual Property Rights

NPP (The New Payments Platform) is an industry-wide payments platform for Australia. 60 Australian banks have adopted the platform. It creates a national infrastructure for quick payments in the country. NPP is worried about intellectual property. It also filed for the protection of the “PayID” trademark. NPP launched its version of PayID, in February 2018. It was launched as an addressing function. Ripple launched PayID in June 2020. The solution offers consumers the equivalent of email addresses, unique, easy-to-read ID, and universal payment addresses that work with any service provider.

When it was launched, Ripple announced BitPay, Brave, BitGo, and Huobi, as four of 40 partners. The firm also revealed that it expects to have 100 million potential users. One day, all kinds of transactions, whether bank transfer, cryptocurrency transfer, PayPal, or Western Union could be completed via the standard.

The Court Documents Describing the Lawsuit Haven’t Gotten to the Public

The official court documents highlighting the contents of the lawsuit haven’t become public yet. But, going by the speculation about the matter so far, it appears that the lawsuit is about the PayID trademark. As described, Ripple released its PayID on June 18, 2020. This is about two years after NPP Australia introduced its version of PayID in the country.

The first part of the hearing, which is the interlocutory hearing, was reportedly conducted by Judge Burley through a web conference on August 20. It has since been adjourned for a preliminary hearing. The next hearing, which will be a case management hearing, through the conference is scheduled for Wednesday, August 26. NPP Australia is represented by Clayton Utz. Clayton Utz Is one of the six most notable law firms in Australia. According to the case document which was signed by the Court’s Secretary, it indicates that Ripple Labs the defendant is represented by Thomas M. Hadid. Hadid works with Kilpatrick Townsend Attorneys.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she’s not writing, she spends time with her adorable cat, Ginger and works out often.

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