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Monday, October 25, 2021 1:27:20 AM
Will Bankruptcy Courts Treat Bitcoin as a Commodity?
and the ending says If
its posing the question, its commentary, crypto's are NOT commodities
If bankruptcy courts treat virtual currency as a commodity – requiring return of the actual virtual currency – it may reduce the need for contested valuation litigation. This assumes the virtual currency can be returned. If it can't – whether because of an inability to access digital wallets, theft, or other reasons – then the valuation method will be paramount.
The volatility and intrinsically unique nature of virtual currency has created considerable confusion and uncertainty for lenders considering it as a new asset class for collateral. The My Big Coin decision provides some clarity on how virtual currency may be characterized and treated in court.
https://www.wardandsmith.com/articles/will-bankruptcy-courts-treat-bitcoin-as-a-commodity
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