Federal ruling?

[bozeman406]

has anyone considered the possible repercussions that bitcoin is now considered a currency under federal law, and therefore is subject to the rules, regulations, and taxes associated with dealing in bitcoin?

I expected this to be HUGE news and expected sites to instantly shut down or halt operations until they figured out the extent to which this changed business dealing in bit coin. Also this is my newb post.

Thoughts? If its been posted a dozen times since the ruling, please ignore.

[ElectricMucus]

Bitcoin isn't ruled to be anything. A judge simply said it can be "used like a currency".

This has the same legal repercussions as it was before, namely independently of the medium of exchange your local laws still apply. You need to pay taxes on everything related to Bitcoin which you would otherwise.