Bitcoin Vs. Bank Of Finland: Cryptocurrencies Ruled As Commodities After Failing Money Test

The digital currency bitcoin is no more. At least, not in Finland, where it is now officially a digital commodity -- not a currency. "Considering the definition of an official currency as set out in law, it's not that. It's also not a payment instrument, because the law stipulates that a payment instrument must have an issuer responsible for its operation," Paeivi Heikkinen, head of oversight at the Bank of Finland in Helsinki, told Bloomberg recently. "At this stage it's more comparable to a co...