If a country adopted bitcoin as their national currency, would the US still be a

[Umkar]

This year the US government (the IRS) declared that bitcoin is a commodity for tax purposes, not a currency.

If another country were to declare bitcoin their official national currency, would the IRS still be able to call bitcoin a commodity or would it be forced to relabel it a foreign currency?

As a general rule, any state can present for payment the national money of another state and this state must redeem its money at the expense of gold and foreign exchange reserves. In the event that any state declares bitcoin its national money, this will be impossible. National money has always been considered banknotes, which have all the requisites of money and certain obligations of this state. It is unlikely that this can happen with bitcoin. I do not think that he can become the national money of any state. National national money can still be equated with a national centralized crypto currency, but not the usual decentralized one.

[Palmerson]

I do not believe that someday cryptocurrency can become a state. This cannot be because it is contrary to the laws of the economy. But if desired, the Americans may not recognize bitcoin currency indefinitely. There is such a thing as a freely convertible currency. The dollar belongs to this list. Everything else they can not recognize and not exchange.

[Irvinn]

This year the US government (the IRS) declared that bitcoin is a commodity for tax purposes, not a currency.

If another country were to declare bitcoin their official national currency, would the IRS still be able to call bitcoin a commodity or would it be forced to relabel it a foreign currency?

Here also the question arises: can a country declare bitcoin or another crypto currency its national money? In my opinion, no one has the right to privatize a certain Internet product. All countries have the same right to bitcoin. Therefore, it seems to me that if a state declares bitcoin as national money, such a statement will not have any legal force for other countries. The national crypto currency can only be digital coins issued by this particular state.

[Sithara007]

This year the US government (the IRS) declared that bitcoin is a commodity for tax purposes, not a currency.

If another country were to declare bitcoin their official national currency, would the IRS still be able to call bitcoin a commodity or would it be forced to relabel it a foreign currency?

It is not going to make a difference in the United States. The US authorities will continue to consider it as a commodity and they will never award the status of currency to Bitcoin irrespective of its legal status in the other countries.

[PalitanX]

the US would bomb them and make them denounce btc.

[Basmic]

the US would bomb them and make them denounce btc.

Why bomb them? If any state makes bitcoin or any altcoin its national currency, their economy will collapse itself. The economy of a modern state can exist only under manual control. Therefore, these ideas of a utopia. Communism will be built faster in the world.

[malbterxic]

The idea with the nationalization Bitcoin is absurd.
The fact is that the national currency should be controlled by the central bank of the country, Bitcoin can be controlled only in the case of control over the vast majority of miners, but since the miners are distributed around the world, they can not be controlled.
This is why the status of bitcoin in the US will not change.

[t2yax]

In US, bitcoin will adopt bitcoin. Bitcoin can be the national currency in US, because of the good and fast innovations of US, bitcoin can be their own virtual money. Bitcoin can be one of the best innovations for every country. Bitcoin as their national currency is not as easy as changing our paper money to virtual money.