CFTC sees any crypto-currency as commodities according to this.
So NuBits are regarded as commodities from the perspective of the US jurisdiction.
So issuing, trading, exchanging, holding NuBits is legal, even if by being pegged to the US dollar it behaves like the US dollar from a purchasing power perspective.
That is the beauty of NuBits: simulating the dollar while being a commodity
However, embedding nubits into physical coins is illegal according to this because it would be too similar to the dollar?
Maybe in that case, if you do not mention the term of “dollar” (which LibertyDollar did) on the physical coin itself (or physical bill) that contains 1 NuBits, it should be ok?