Author: William "Bud" Roth
There has been a lot of legal debate about whether Bitcoin is a currency, a security, or a commodity. That judgement will ultimately determine whether Bitcoins used to pay ransom are treated as stolen money (fungible) or stolen goods (reclaimable). Law enforcement should treat Bitcoin as a commodity and, in doing so, the victims of ransomware who pay would have recourse against all future owners of the ransomed Bitcoins to reclaim them.
Tags: bitcoin, blackmail, blog, commodity, currency, cyber, cyber beat, cyber blog, cyber crime, cyber law, encrypt, encryption, exchanges, fungible, money, ransomeware, reclaimable, security, stolen goods, stolen money, william bud roth