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Quite simply it's a competitor to the dollar, which is illegal within the US. You cannot issue currency in the US, to my knowledge.
by Synaesthesia 4y ago
Quite simply it's a competitor to the dollar, which is illegal within the US. You cannot issue currency in the US, to my knowledge.
- lotsofpulp 4y agoSource for US federal law that would make it illegal? https://en.wikipedia.org/wiki/List_of_community_currencies_in_the_United_States https://en.wikipedia.org/wiki/List_of_community_currencies_i... Of course, the feds are going to require taxes to be paid in USD, so you will need USD at some point.
- atemerev 4y agoHere in Switzerland, you can pay taxes with crypto (at least in the cantons of Zug and Ticino). Money is money.
- Armisael16 4y agoThat’s nonsense. You can’t pay taxes with other currencies, but issuing IOUs/gift cards is absolutely legal.
- fIREpOK 4y ago> Quite simply it's a competitor to the dollar, which is illegal within the US. You cannot issue currency in the US, to my knowledge. The USA has already ruled that Bitcoin is NOT a currency... I wish that they hadn't done that
- mattwilsonn888 4y agoThat wouldn't matter. The issuance is over and was never preventable.
- mardifoufs 4y agoBitcoin is still being issued, unless I misunderstood what you meant.
- seanw444 4y agoThere's no stopping it, is the point. It was an inevitable creation.
- fIREpOK 4y agoBut if you use Bitcoin for a transaction, you have to treat is a a stock, not a currency... and declare tax gains/losses every time
- jjtheblunt 4y agoCredit card companies issue "points" which is effectively (faux) currency, with which people do arbitrage vs dollars, for a counterexample.