Proof of Work: The Heart of BitCoin and Money
John Pitts explains why a commoditized computation like Bitcoin doesn’t go away.
John Pitts explains why a commoditized computation like Bitcoin doesn’t go away.
The distinction between commodities and securities is an important one for the crypto sector.
For years, the U.S. Commodity Futures Trading Commission (CFTC) has been clear on its stance—cryptocurrencies are commodities, just like oil and corn.
A court in Massachusetts has backed the U.S. Commodity Futures Trading Commission (CFTC) in their interpretation of virtual currencies as commodities (and thus within the regulator’s jurisdiction), in the process dismissing a petition from the My Big Coin’s promoters to have the case set aside.
In a move that will propel the country forward in the cryptocurrency space, Indonesia has announced that domestic trading exchanges can accept cryptocurrencies as commodities.
The actions by the IRS pirates against the 13,000 customers of Coinbase amounts to no less than an attempt to make them walk the proverbial plank.