# Last edited on 2014-05-03 01:31:43 by stolfilocal

http://rt.com/business/texas-bitcoin-regulation-currency-257/

 The US Internal Revenue Service has said that bitcoin would be regulated as property, not currency. Gina Sanchez, the founder of Chantico Global, told CNBC that the IRS’ designation is a “terrible thing” for bitcoin and means the mysterious cryptocurrency will only continue to lose its market value.

“Bitcoin as a currency doesn’t make any sense,” she said. “You basically have a whole bunch of cyber geeks trying to tout themselves as a monetary authority. That’s just not going to fly.”