Mark Mason
Well-known member
Cryptocurrencies Referenced as Potential Medium of Exchange in Supreme Court Ruling
In a recent case at the Supreme Court of the United States, Bitcoin and cryptocurrencies got mentioned as a possible medium of exchange rather than as an asset.
In Wisconsin Central Ltd. v. United States, the Supreme Court was deciding on whether or not an individual’s stock could be taxed like money. The court came to a conclusion that “it’s clear enough that the term money unambiguously excludes stock.” However, Justice Stephen Breyer made a distinction in his dissenting opinion by stating that “money as used in this statute, must always mean a medium of exchange, but what qualifies as a medium of exchange may depend on the facts of the day.” To prove his point that what qualifies as money changes over time, he referenced how cowrie shells used to be commonly acceptable forms of money, but is not any longer. He also mentioned gold is going through a similar process.
Read more: https://www.dashforcenews.com/crypt...l-medium-of-exchange-in-supreme-court-ruling/
In a recent case at the Supreme Court of the United States, Bitcoin and cryptocurrencies got mentioned as a possible medium of exchange rather than as an asset.
In Wisconsin Central Ltd. v. United States, the Supreme Court was deciding on whether or not an individual’s stock could be taxed like money. The court came to a conclusion that “it’s clear enough that the term money unambiguously excludes stock.” However, Justice Stephen Breyer made a distinction in his dissenting opinion by stating that “money as used in this statute, must always mean a medium of exchange, but what qualifies as a medium of exchange may depend on the facts of the day.” To prove his point that what qualifies as money changes over time, he referenced how cowrie shells used to be commonly acceptable forms of money, but is not any longer. He also mentioned gold is going through a similar process.
Read more: https://www.dashforcenews.com/crypt...l-medium-of-exchange-in-supreme-court-ruling/