Bitcoin ruled as a currency

Another step in the path of an establishment of virtual currency was made as Federal judge affirms that BTC is a currency and needs to be regulated as such.

The outcome of last month’s Bitcoin Ponzi scheme incident is significant for Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term users. Texan man, Tendon, T, Shavers, landed himself in a precarious position, when he was sued by US Secretary and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (SEC) for unlawfully using Bitcoin investment funds for investor withdrawals and his own personal use.

In the case against Shavers, a federal judge has ruled that bitcoins are “a currency or form of money," and are therefore subject to relevant US laws. Fraudulent activity using the unregulated digital currency seems to have prompted the need for greater control and security in order to protect the public from further incidences.

But the ruling leaves us with unanswered questions like: how will US law affect Bitcoin usage internationally? How will the shape and form of the digital currency change as a result of the ruling? And more…