Is Cryptocurrency Legally Money?
The international law firm Bird & Bird concludes cryptocurrency is not legally money. Instead, Bird & Bird describes the Pluton (PLU) cryptocurrency as a utility token or a loyalty point.
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Market Mad House
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Plutus
Plunging into Payments with Plutus Tap & Pay and Pluton (PLU)
For instance, attorneys at Plutus’s law firm Bird & Bird wrote an interesting legal opinion on Pluton (PLU)’s legal status that could have far-reaching implications for cryptocurrency. Notably, Bird & Bird concludes cryptocurrency is not money.
“In summary, PLU are loyalty points similar to cash-back points from your grocery store, or air-miles when you travel. In this sense, they qualify as utility tokens in every category,” Bird & Bird concludes.
Instead of a currency, a Pluton (PLU) is a “non-monetary reward token” similar to frequent flier miles. Therefore, Plutus regards Plutons as rewards tokens and not cash.
App lets you pay with Bitcoin via Twitter
iPayYou could be an important tool for introducing average Americans to bitcoin by enabling instant payment over the popular app. It might even convince Donald Trump to start using bitcoin.
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Is Apple Pay Finally Coming to Apple?
Apple Pay might have a major new competitor with some intriguing capabilities. A British startup called Plutus has unveiled plans for Plutus Tap & Pay, a payment app that allows a customer to instantly pay with Bitcoin or another cryptocurrency called Ethereum.
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Goodbye Pound Sterling, Hello Bitcoin, Thank You Brexit
Britain’s Leave campaigners may have accomplished what Napoleon, Kaiser Wilhelm II, Adolph Hitler and the Soviet Union could not. The Brexit promoters may have set in motion a series of events that could destroy one of history’s great currencies; the Pound Sterling, and demolish what is left of the British Empire.
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