California judge: bitcoins are intangible property
In a bankruptcy case involving a bitcoin mining firm, a judge in California has ruled that bitcoin is an ‘intangible personal property’ rather than a currency. This ruling will add to other case law about the legal status of bitcoin. At the same time, regulatory bodies in the US seem to be looking at bitcoin from different angles when it comes to deciding how bitcoin is classified under US law (whether as commodity or security).
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