IMF Survey Overwhelmingly Supports Bitcoin As “Money”
Bitcoin was created to be the first ever peer-to-peer electronic cash system, and in its wake, an entire industry of digital assets has since been created. Despite the cryptocurrency’s longevity and staying power, there’s still debate amongst policy makers, regulators, and even investors, if the asset class should be defined as “money.” A recent survey conducted by the International Monetary Fund has respondents overwhelmingly saying “yes” that Bitcoin and other altcoins are indeed money, and […]
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The Department of Financial Institutions (DFI) of Washington has included the cryptographic currencies in the common definition of the term “Money”. The alternations can be observed in the Revised Code of Washington (RCW) tile 19, chapter 230 “Uniform money services act”, 010 Definitions or simply RCW 19.320 Definitions: “(16) “Money” means a medium of exchange that is authorized or adopted by the United States or a foreign government or other recognized medium of exchange. “Money” includes a monetary unit of account established by an intergovernmental organization or by agreement between....
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