As Real Estate Embraces Bitcoin, Legal Issues Loom

Law360, New York (January 3, 2014, 6:18 PM EST) -- Manhattan real estate brokerage Bond New York became the first company of its kind to accept Bitcoin as payment last week, representing the market's growing comfort with the digital currency while also raising questions about how the volatile "coins" will be classified by regulators and judges.

Bitcoin is a relatively new currency and peer-to-peer transaction platform that has been embraced by a number of small companies, as well as some major online retailers, such as Overstock.com. It is a Web currency based on algorithms, and its value is determined by its users, without government input.

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