Bitcoins are not equivalent to dollars, a federal bankruptcy judge ruled in a case of first impression involving a bitcoin mining operation (Hashfast Techs. LLC v. Lowe (In re Hashfast Techs., LLC), Bankr. N.D. Cal., 14-30725, partial summary judgment order 2/22/16).
The ruling, while limited to a clawback motion involving a blogger paid to promote Hashfast Technologies LLC, is the first in a bankruptcy court to address the cryptocurrency for any purpose in a reported decision in the U.S., attorneys told Bloomberg BNA.
“The court does not need to decide whether bitcoin are currency or commodities for purposes ...
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