Europe is better positioned as a place to create Bitcoin-based startups than the US. That was the message coming out of Bitcoin London today, the first major conference in London to address startups, investors and business models of the online currency. Covering the broad sweep of businesses, technologists and institutions involved in the Bitcoin space, the conference heard that the US may have made a fatal strategic mistake in classifying Bitcoin as if it were money so early on in its development.

What has emerged is that Bitcoin is being treated in many different ways: as money, as an asset class, as the first highly secure P2P global information exchange, as a technology platform and even as a if it were a startup entity in its own right.

Constance Choi, General Counsel with Payward sounded exasperated on stage at the conference: “Having to explain Bitcoin at Federal and State level…

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