So, basically IRS forced the law (is is even possible to do something like that without wide consensus of other financial institutions?) that benefit the state (in terms of collecting more taxes from Bitcoin users) more.
I thought that US Treasury classified bitcoin as virtual currency in 2013, also bitcoin was categorized as such by various courts - i.e. Texas US District Court.
Amazing how paper pushers can be so two-faced and label bitcoin as currency and commodity at the same time.
yes, but the IRS classified it totally different from the other branches of government. They declared it property (for tax purposes). What that ruling requires taxpayers to do is to report the value gained in the "dollars". The problem, as I see it, is that we (the US and others) don't use actual dollars, and they are, instead, actually Federal Reserve Notes. They were, at one time, promises to pay actual dollars but that is no longer true. In fact, they are no longer even notes, as they exist only in digital form in bank ledgers. So, since the IRS requires taxpayers to report their Bitcoin earnings in "dollars" they should be able to clarify this little point quite easily. Their actions indicate that a Federal Reserve Note somehow and someway became the very thing (i.e. a dollar) that it was promising to pay. Such an occurrence surely would be recorded clearly either in statute or case law. I don't believe the FRN ever became the dollar so we (taxpayers) need it to be clearly identified if we are to report our earnings based on that standard.