US federal court defines cryptocurrency as currency

category:Finance
 US federal court defines cryptocurrency as currency


Money is usually a means of exchange, payment, or store of value, chief justice BerylA.Howell Bitcoin is such a thing, he wrote in a letter for the District Court of the District of Columbia

In September 2015, according to foreign media reports, the US Commodity Futures Trading Commission (CFTC) defined bitcoin and other virtual currencies as commodities, the same as crude oil or wheat.

Since then, there have been voices that the United States will classify bitcoin as a security, but according to CNBC, this statement was denied by officials of the US Securities and Exchange Commission (SEC) in June 2018.

In China, virtual currency represented by bitcoin is denied as currency, but the peoples Bank of China and other ministries and commissions have not denied its property attribute as a commodity. On July 18, 2019, Hangzhou Internet Court confirmed the virtual property status of bitcoin in a case involving the infringement of bitcoin network property, and became the Chinese court that recognized the virtual property attribute of bitcoin for the first time.

Source: surging news editor: Yang Zeyu_ NF6036