4 ms·

Didn't the SEC / IRS rule that crytocurrencies are an asset rather than a currency though?

• dragonwriter 9y ago
  > Didn't the SEC / IRS rule that crytocurrencies are an asset rather than a currency though? Mm The IRS decided that that's the category they fall into for certain tax purposes. Not sure why that would have any bearing on the application of credit card issuer policies that are not tied to the particular definitions in the tax code, though.
• splintercell 9y ago
  That makes no difference to the conversation in hand. What parent is saying that unlike other purchases with credit cards, you can't really do much about cryptocurrencies. For instance if you purchased a physical product, in case of a problem (like fraud or something), at least you can go to the place where the delivery of the physical product happened and find it. Similarly in case of a digital good (like ebook or pdf, since it's mostly copied from one destination to the other) if the product wasn't delivered, then it can be redelivered with no cost to the producer. It's the first time we are encountering a digital good with non-duplicability of physical world goods with hard tracability of cash.
  • wolco 9y ago
    If that was applied to food both would have a similiar issue with the return ability