United States cryptocurrency regulation

Under federal law, cryptocurrency is classified and regulated as a commodity under United States law.

In March 2013, the Financial Crimes Enforcement Network (FinCEN) of the United States Department of the Treasury released a statement classifying cryptocurrency as "virtual currency." The definition of virtual currency is compared to that of "real currency," which FinCEN defines as the currency of a sovereign state. According to United States regulatory code, virtual currency is “a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency.” For federal tax purposes virtual is considered property.