Currency Is it a currency? A commodity? Bitcoin has an identity crisis Updated : March 03, 2020 01:20 PM IST How bitcoin and other digital coins are defined could shape how they are regulated around the world. The bitcoin lending market has grown quietly as an opaque corner of the cryptocurrency sector, which itself is notorious for its lack of transparency. Cryptocurrencies’ kinship to securities arises largely from their issuance and function in initial coin offerings, or ICOs, where they are used to raise traditional money. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.