Multiple Choice

What is the primary characteristic of blockchain technology? *

It is a centralized digital ledger that records transactions.

It is a decentralized digital ledger that records transactions across multiple computers.

It is a single-user database that records financial transactions.

Which U.S. regulatory body considers some cryptocurrencies as securities? *

The Federal Reserve

The Securities and Exchange Commission (SEC)

The Department of Treasury

Under U.S. law, how are cryptocurrencies classified for tax purposes by the IRS? *

As currency

As property

As stock options