Bitcoin as a commodity: License to tax?

The US Commodity Futures Trading Commission (CFTC) has officially recognized Bitcoin has a commodity, charity nonetheless serve approval for a rising digital currency. Whether or not this approval will spin out to be a good thing, however, stays to be seen.

CFTCBuilding (HomeSubFeature)Interestingly, a CFTC’s approval had a bit of a reprehension tinge to it, with a CFTC arguing that a same manners are “applicable to all participants in a commodity derivatives markets.”

In other words, simply since Bitcoin is still fairly new, and governments haven’t entirely figured out how to hoop it, a currency (now called commodity) can’t simply dress a rules.

Whether or not Bitcoi­n’s­recog­nition as a commodity will spin out to be a good thing stays to be seen.

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Importantly, the CFTC famous Bitcoin as a commodity so that it could have management over controlling Bitcoin derivatives. Confused? A derivative is a arrange of agreement that derives the value from something else. For example, a futures agreement is a agreement to buy a given amount

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