Bitcoin as a Commodity, Seriously?


The United States federal authorities have a mind of their own. Every department considers bitcoin as their own and want to control over it. It has already been proven multiple times, starting from bitcoin being considered as currency by FinCEN, money by SEC, property by the IRS and recently commodity by CFTC. The latest development has enraged bitcoin community, who are currently debating about the validity of CFTC’s claim.

It all started when the Director of Enforcement at CFTC, Aitan Goelman made this statement:

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“While there is a lot of excitement surrounding Bitcoin and other virtual currencies, innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets.”


Read more ... source: TheBitcoinNews