The U.S. Supreme Court referred to the cryptocurrency as a form of money and potential replacement of traditional currencies.
Yesterday the Supreme court issued a decision in Wisconsin Central Ltd. against the United States. The essence of this dispute has nothing to do with the cryptocurrency sphere is whether stock options employees be taxed as well as money. The initial trial, the company has lost — as the district court and later the court of appeal, ruled that stock options are taxed according to the tax laws of the United States.
But the Supreme Court has a different opinion and ruled that the shares are not considered to be “monetary remuneration”, and the case should be “remanded for further proceedings consistent with this opinion.”
An unexpected view was expressed by judge Stephen Breyer (Stephen Breyer), the opinion supported by three other judges. He stated that the definition of “money” is more flexible than most people believe, and “the idea that we believe money changes over time”. Breyer stated:
“Once cowrie shells were a means of payment, but has ceased to be… our currency was originally a gold coins and bullion, but after 1934 the gold is no longer used as a medium of exchange… Who knows, maybe someday people will pay for purchases in bitcoin or some other cryptocurrency” .
Although this trial is not directly related to the cryptocurrency, the fact that the judge mentioned in passing the digital currency can be perceived as consent by the U.S. Supreme Court with the opinion that cryptocurrencies are money.
This is particularly significant, given that the IRS calls cryptocurrencies a form of ownership, and the Commission on trade in commodity futures — a commodity.
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