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ARTICLE · 07 APRIL 2014

Virtual Currency Is Here To Stay – Bitcoin Is The Latest Evolution

Law Office of Martin Mushkin LLC
Explore more from Law Office of Martin Mushkin LLC

Bitcoin is the latest and well-known form of digital currency in a long line of digital currencies.

United StatesFinance and Banking
Martin Mushkin
Martin Mushkin
Joseph Sahid
Joseph Sahid
Joseph Taub
Joseph Taub

The Legal Aspects1

Bitcoin is the latest and well-known form of digital currency in a long line of digital currencies. The basic premise of digital currencies is that they try to establish a medium of exchange based on immutable mathematics and not subject to the control or manipulation of any government. Not long after the computer was invented people started discussing the development of currency based on computer codes, that series of zeroes and ones, called bits. The idea was to develop a medium exchange without fiat money issues and not backed by a government and subject to its manipulation. The result so far has been to raise complex legal dilemmas which legal counsel have to work through.

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