Bitcoin termed as Currency, Property and now Commodity
Q. The US Internal Revenue Service thinks bitcoin is property; a federal judge thinks it's a currency. What has the Commodity Futures Trading Commission decreed it as?- Published on 22 Sep 15
Commodity Futures Trading Commission has decreed Bitcoin is a commodity meaning regulator can now bring charges against any wrongdoers trading cryptocurrency futures and options. Ring will open up financial innovation in the state. This is consequent to the US based Bitcoin future trading platforms. Bitcoin refers to a kind of digital currency where encryption techniques are used for regulation of generation of units of currency and verification of the transfer of funds, operating independently of a central bank.