I believe the only restrictions on vessel names are that they should not sound like, or could be confused with radio pro-words such as Mayday, Panpan, etc.
But please keep in mind, that you are not the only one who has to use the name of your vessel.
When your shore contact phones the coastguard to report you overdue, what are they supposed to type in to do a log search, or check with the ITU for your vessel details.
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