Cryptocurrency: Searching for Legal Consistency

For those looking to participate in crypto-commerce, uncertainty about how the law will treat virtual currency transactions can be a stumbling block. Because crypto coins are permissionless innovation, commerce and its rules are developing from the ground up along with data and process infrastructure.  As regulators encounter bitcoin, they issue ad hoc statements about the nature of virtual currency and what it means to deal in them, setting off a furore of discussion over what the ruling or advisory means. A Patchwork of Cryptocurrency Regulation Examples of regulatory action involving cryptocurrencies include: The United States Internal Revenue Service advises that […]

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