foolish, as a legal or practical definition, to categorize Bitcoin to be money, for it would lead to ridiculous and impractical outcomes, such as an inventory of Bitcoins android forex platform requiring a money transmission license to ship across state lines. I even read about these things for fun, with Simon Singhs. Markets reacted negatively to the news. The sensible-sounding ones will say, Sure the G20 nations all have stable financial systems, but Bitcoin is a lifesaver in places like Venezuela where the government can vaporize your wealth when you sleep.
OK, But What if Bitcoin Becomes the World Currency? Most, and probably all, of these activities should not by any reasonable person be construed under the same regulatory apparatus as an interbank currency transfer. These days, stocks are regulated by the SEC, precisely because in the olden days, there were many, many stocks issued that were much like Bitcoin. Cancer-Away, CancerBgone, CancEthereum, and any other number of competitors would spring. Government-issued currencies have value because they represent human t rust and cooperation. Squeezing Bitcoin into the Bank Secrecy Act of 1970 is a recipe for humiliation. Heres a great description of the whole scene by Chain CEO Adam Ludwin.