Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is not a currency
by
david wilson
on 27/11/2014, 07:24:20 UTC
http://www.zdnet.com/senator-tom-coburn-agrees-that-bitcoin-is-not-legal-currency-7000036169/

Apparently this genius claims btc is not a currency because its not produced by the us treasury.
So according to his logic, the british pound and the euro are not legal currencies and no US firm should accept them.

 

The IRS also said that virtual currency is not to be treated as legal-tender currency to determine if a transaction causes a foreign currency gain or loss under U.S. tax law.