Bitcoin becomes official US commodity

By Euronews

Published on 18/09/2015 - 15:41•Updated 09/12/2019 - 10:08

Bitcoin is to be classed as a commodity in the United States along with gold and oil, according to Commodity Futures Trading Commission. It decision

ADVERTISEMENT

Bitcoin is to be classed as a commodity in the United States along with gold and oil, according to Commodity Futures Trading Commission.

It decision follows a clampdown on unregistered firms which trade derivatives of the crypto-currency.

Bitcoin is a virtual currency that allows users to exchange online credits for goods and services.

While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining.

You might also like

French banks have doubled its lending of green and sustainable loans in 2022, reaching a total of €216 billion

Now playing Next

French banks ploughing billions into green and sustainable loans

Euro sign is photographed in front of the European Central Bank in Frankfurt, Germany

Now playing Next

Euro area inflation slowdown brings ECB's 2% target back into focus

Rain clouds gather over the Reichstag building which houses Germany's lower house of parliament (Bundestag) in Berlin on September 28, 2022.

Now playing Next

German unemployment at highest rate in more than two years

Economy Currency Internet