Wouldn't it be illegal in most parts of the world to issue currency backed by an empty promise?
If I bought an internet commodity however at MtGox, called Bitcoin, and it is known to have fairly secure properties as an accounting utility, wouln't that be legal in most parts of the world if I would like to exchange it for goods or services or to sell it?
Really bitcoin.org - see a lawyer about the "currency" thing please. Are you seeking cheap publicity. As you are definitely getting it. For now I will continue to barter my Bitcoin accounting utility which I have bought at MtGox and which I can sell at MtGox if someone wants to buy it or accept it in any barter exchange transaction at the fair market value attributed to my/your Bitcoin accounting utility. And please everybody - I declare that I am not giving you any currency through the process of our barter, buy or sell transactions.
Do show the applicable laws.
Calling your Bitcoins that you buy/sell/(trade for goods) a currency is stepping into a legal minefield in my opinion, as the financial industry is regulated by numerous laws beyond the scope of this posting, for legislation administrative rulings see http://fincen.gov/
Is calling your Bitcoins that you buy/sell/(trade/barter for goods) a digital P2P crypto-commodity not maybe more accurate and legally acceptable if it is traded/exchanged/bartered or bought/sold not within the scope of financial industry?
It seems like Australia and the United Kingdom's tax offices view Bitcoins in the latter manner. see http://www.theregister.co.uk/2011/06/08/bitcoin_under_attack/
UK considers Bitcoins legal and taxable unique intellectual property assets? : "... quoting Her Magesty’s Revenue & Customs as saying that turning Bitcoins into currency could make transactions taxable..." (turning Bitcoins into currency = Bitcoins not a currency, but a digital good?)
Australia considers Bitcoins legal and taxable unique intellectual property assets? : "... If traced by the Australian Tax Office, Bitcoins would probably get the same treatment as “barter” exchanges, with tax assessed on the value of traded goods or services. ..." (barter of digital goods?)