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Aug
29

Banco de Mexico Governor: Bitcoin is Commodity Rather than Currency

From: Coin Telegraph

By Joshua Althauser

Banco de Mexico (Bank of Mexico) Governor Agustín Carstens thinks the digital currency Bitcoin should be classified as a commodity rather than as a currency. The bank governor argued that Bitcoin does not meet the existing definition of currency because it is not supported by a government or central bank.

According to the report by local Mexican newspaper El Economista, Carstens argued further that since there is nothing to ensure its accounting in a financial system, the virtual currency should be considered as a commodity.

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