Hacker News new | ask | show | jobs
by bidirectional 1838 days ago
A fiat currency is issued by a government without being backed by a physical commodity. El Salvador's adoption of Bitcoin does not make it a fiat currency.
1 comments

I think this is in reference to a US law that states that a "currency" adopted by a foreign country is not classified as an asset but as a currency. This has tax implications but I don't know the details.