3 ms·
> but it will signal that the US is diehard anti-crypto. From the article: SEC officials have declared Bitcoin and Ether to be currencies, as they are decentra
by absolutelyrad 6y ago
> but it will signal that the US is diehard anti-crypto.
From the article: SEC officials have declared Bitcoin and Ether to be currencies, as they are decentralized in their management, but have left the door open for others to qualify as securities, especially at the time of their issuance.
So not really. The US needs to evolve to the new world.
- Supermancho 6y agoThe SEC (an extension of the Federal Reserve) can turn around and declare whatever is useful at any point, as has been observed. There's nothing special or protected about the traded Cryptos, despite the speculation. If a currency crisis arises and the market is frozen, cryptos will not be on the first lien right to trade for Fed assets (whatever that currency might end up to be) or even continue trading, depending on the decisions of the Fed. Hell, I don't expect the issued currency (cash - which the long tail of people are still using) will have that right...since the Fed board members aren't going to be running around with palettes of cash when buying goods either.
- tastyfreeze 6y agoDo you have an authoritative source for BTC and ETH being considered currencies? I think the article has it wrong. IRS treats all cryptocurrencies as property. SEC has only said they are not securities. That does not imply they are currencies.