Home Blockchain News Groundbreaking Chase Bank Lawsuit Verdict Could See NY Federal Judge Rule ‘Crypto is Cash’

Groundbreaking Chase Bank Lawsuit Verdict Could See NY Federal Judge Rule ‘Crypto is Cash’

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By CCN.com: A Manhattan federal judge will have to decide whether crypto is cash in what would be a landmark decision for the budding industry. The ruling would have major implications for what laws and regulations cryptocurrencies are subject to. Chase Bank — the consumer and commercial banking subsidiary of JP Morgan Chase — says crypto is just like cash because it’s a medium of exchange. The only difference is that cryptocurrencies like bitcoin are digital, Chase says. Meanwhile, a group of customers that are suing Chase over fees it charged on crypto purchases contend that cryptocurrencies are goods —

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* First published on ccn.com

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