Bankruptcy
Feb. 23, 2016
Bankruptcy judge says bitcoins don't equal dollars
A San Francisco bankruptcy judge has decided that Bitcoin is not equivalent to dollars in the context of a bankruptcy case. This appears to be the first time a bankruptcy judge has weighed in on this question.
Daily Journal Staff Writer
SAN FRANCISCO ? A bankruptcy judge on Friday weighed in on the novel question of whether digital financial instrument Bitcoin should be considered a currency or commodity in bankruptcy proceedings.
The question is an important one because if Bitcoin is considered a commodity, courts must account for fluctuations in its value.
U.S. Bankruptcy Judge Dennis J. Montali chose a middle ground...
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