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Kanye Tries to Shut Down Coinye

Image courtesy of Def Jam (via ABC News Radio)
Image courtesy of Def Jam (via ABC News Radio)

Kanye West wants to put a stop to the new online currency known as Coinye. His lawyers have sent cease-and-desist papers to the seven anonymous creators of Coinye, according to The Wall Street Journal .

The lawyers argue, “Given Mr. West’s wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services.”

One reason why this would be the case, according to the lawyers, is that the digital coin features what appears to be a cartoon depiction of Kanye's face. Kanye's legal team threatens to "pursue all legal remedies" if Coinye isn't shut down.

Coinye was supposed to debut on Saturday, but its creators bumped up the release to Tuesday in response to Kanye's lawyers.

Copyright 2014 ABC News Radio