THE COURT: What is the basis of that statement --
MR. CIRIC: Okay.
THE COURT: -- that you just made?
MR. CIRIC: Yes.
THE COURT: Do you not agree that Bitcoin is a financial product? Yes or no?
MR. CIRIC: Okay. Okay. Our theory from the beginning of the first paper to the last page is that Bitcoin is not a financial product or service under the statutory framework passed in 2011. Yes.
THE COURT: Is Bitcoin a financial product? Yes or no?
MR. CIRIC: No. Absolutely not.