Query about Bitcoin

[Riley]

If I started investing in Bitcoin, then how is it legally classified? Is it classified as a commodity, security, or currency? And how does this classification impact its acceptance within mainstream finance?

[Mark]

In the US, it's still not clear how Bitcoin is regulated. The CFTC calls it a commodity, and the IRS calls it taxable property. However, the IRS does not recognize it as currency. The lack of a single definition makes it harder for normal financial integration to happen because regulators aren't sure what to do.