2 ms·

So which one is bitcoin? (I am assuming these definitions relate to a california legal world only?

• saurik 15y ago
  I believe bitcoin to be a "payment instrument", but I could see an argument that it doesn't fit intk any of these definitions as it is really designed by someone as a competitor for "momey", so we would really need to look at laws for currency exchange or something, but that just underscores that bitcoin is fundamentally then unlike MS points, which are pretty much a gift card. Also, definitions similar to this are generally accepted. I happened to know where in Calofornia's legal code I could go to get a firm definition that clearly laid out the "gift card" exception, but frankly the answers other people already have been giving should have been sufficient: I was mearly providing evidence for "gift cards are normally exempt".