Cryptocurrency News Round-Up: Bitcoin Not For 'Ordinary People', Dogecoin Trademark Threat & Canadian Regulation

• Bitcoin price: £346.10 (via CoinDesk.com)

Any movement across all the major cryptocurrency markets has been negligible over the last 24 hours.

All of the big players, including bitcoin, litecoin, darkcoin, dogecoin and peercoin shifted in price by less than 1.5%, in what has been one of the most stable days for digital currency in many months.

Across all markets, only Aimcoin saw any significant movement. The newcomer registered a jump in value of over 700% to take its market capitalisation to $150,000.

Dogecoin community angered by trademark

Users of the meme-inspired cryptocurrency dogecoin were outraged when it emerged that gaming collectibles company UltraPRO International planned to trademark the word "doge".

The move was seen as a threat to the dogecoin ecosystem, with fears of legal action against dogecoin vendors and even the recently-sponsored dogecoin Nascar driver Josh Wise.

Following a strong reaction on social media sites like Twitter and Reddit, UltraPRO stated that it did not intend to sue anyone for using the word "doge" on products.

"We didn't think about going after anyone with the filing, nor do we plan to, but we always file because typically people come after us," Jay Kuo, general manager at UltraPRO, told the Daily Dot.

"If we receive the trademark we will offer royalty-free use for any vendor who wishes to use the mark."

Investing in bitcoin is not for 'ordinary people'

The head of one of the world's largest bitcoin companies, BTC China, has stated that "ordinary people" should not invest in bitcoin due to the current volatility of the cryptocurrency market.

BTC chief executive Bobby Lee said: "Ordinary people should not buy bitcoin. It's too early. It's going to be so volatile over the next five or 10 years. If you believe bitcoin technologies are fundamentally revolutionary and you want to make a bet, then invest a small amount of savings and see what happens.

Lee was speaking at the Asia Society ahead of Hong Kong's first bitcoin conference, set to start today.

Canada passes first ever bitcoin regulation law

The Parliament of Canada has signed the first ever official law regulating bitcoin, carrying potential implications for foreign operators.

Bill C-31 obliges foreign entities to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) if their customer base includes Canadian residents or citizens.

"It is very important for (bitcoin businesses and players) to comment on the draft regulation when the consultation paper comes out," Susan Han, a Toronto-based lawyer, told CoinDesk.

"If this regulation goes into effect, and (regulators) define virtual currency to include bitcoin, and virtual exchanges are put in the same regime as MSBs like Western Union or MoneyGram, it's going to be a very expensive and awkward process."