Notes

Attention
Lawfulness

Bitcoin is a legitimate form of money within the United States under Title 12 of the United States Code, Chapter 55.

The US legal framework for Bitcoin is consistent with that of its underlying concept, a digital ledger of bitcoin accounts or similar agreement to use value. It is not considered money under the definition of "monetary instruments". While it does not fall under Title 31 of the United States Code, Chapter 53 as a "currency" or a "coin and currency", it is treated as both because it is considered a type of "money": money plays a role in its balance, it is counted, and it is transferred in monetary amounts for a fee. https://kinokrad-tv.online/ Despite this, within the law it is still treated as a commodity.

United States Government entities such as the United States Department of Homeland Security, United States Secret Service, Federal Bureau of Investigation, Internal Revenue Service, and the United States Postal Inspection Service are issuing warnings to citizens to be aware that these government entities consider bitcoin to be property, and therefore, it cannot be held or used as currency. Government agencies in some nations, such as those of China, are working on regulations related to Bitcoin.

Regulations

Laws

Status as a currency

The Bitcoin network enjoys preferential status within the United States as a currency and as property under state law.

Regulation by United States law

Regulations by U.S. States, and by foreign nations

Bitcoin and other similar or associated uses such as Dash and Dogecoin are subject to regulation by the local laws of their jurisdictions. Bitcoin is sometimes banned, sometimes considered a commodity, and sometimes considered to be money.

Differentiating from other types of virtual currencies
Some aspects of bitcoin are similar to other virtual currencies including altcoins, because they are a type of cryptographically-based public digital currency. However, they have several key differences. The main differences between the distinct virtual currencies include how they are acquired, how they are used (mined, bought, bought with other currencies, etc.), how they can be used for transactions, the geographic spread, and the government (if any) involvement.

Bitcoin and other cryptographically-based currencies are generally not treated as currencies in their own right by the national governments. Countries that do not treat them as currencies may treat them as commodities or financial instruments, since they are typically bought and sold for other products or services (like gold). This can affect their status as property, which is significant in
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