Definition ∞ A Virtual Asset Commodity is a digital asset that derives its value from its utility or scarcity, rather than representing a claim on a traditional asset or an ownership stake in an enterprise. Examples include Bitcoin and other cryptocurrencies that function primarily as a medium of exchange or store of value, similar to traditional commodities like gold.
Context ∞ The classification of virtual assets as commodities is a significant regulatory and legal discussion, particularly in jurisdictions like the United States, where it determines the applicable oversight body. News reports frequently cover statements from regulatory agencies and legislative proposals that seek to define or clarify this classification. This distinction has considerable implications for how digital assets are traded, taxed, and regulated.
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