Addendum: Virtual Currencies: 16 December 2016

In July 2016, the FMLC published a paper in which it expressed the view that the virtual currencies which have achieved status as a medium of exchange within a significant user community have a good claim to be regarded as money.  Since publication of that paper, two decisions in the U.S. have taken conflicting views on the question of whether Bitcoin, one of the most commonly used forms of virtual currency, is to be regarded as money.  This addendum examines those two judgments.

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