Bitcoin Is it a bird? Is it a plane? No, its a . According to the Collins dictionary, Bitcoin is a system of open source peer-to-peersoftware for the creation and exchange of (payment in) a certain type of cryptocurrency Transactions of bitcoin are verified and recorded in public distributed ledger called blockchain. Bitcoin is going through an identity crisis! The SEC treats Bitcoin as a security or money. FinCEN treats Bitcoin as currency. The IRS treats Bitcoin as property. The CFTC treats Bitcoin as a commodity. Other regulatory authorities in Europe and Asia also have their own definitions! In your opinion, what is the most appropriate definition and why? Should Bitcoin and other cruptocurrency be regulated? If so, how? What is the difference between digital currency and cryptocurrency? Do you support the idea of a government issued Digital currency? Explain