07 Aug '13, 6pm

Federal Judge Rules Bitcoin Is Real Money

It's actually money, says judge (and SEC) Trendon Shavers is accused of being the Bernie Madoff of Bitcoin. The SEC is going after him for allegedly running a Bitcoin Ponzi scheme from 2011 to 2012. Through his Texas-based “Bitcoin Savings & Trust,” he, under the name “pirateat40,” took in 700,000 Bitcoin — worth $4.5 million at the time — from investors to whom he promised an up to 7% return. In fact, he was paying out Bitcoin from later investors to the earlier investors, taking a hefty cut for himself, and the scheme all eventually fell apart. Shavers “misappropriated” over 150,000 Bitcoin, according to the SEC, but made poor Bitcoin-for-dollar day trades and wound up only making about $150,000 off of them. He used that money for “rent, car-related expenses, utilities, retail purchases, casinos, and meals,” according to the SEC. His 66 investors from across the country ...

Full article: http://www.forbes.com/sites/kashmirhill/2013/08/07/federa...

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US judge rules bitcoin is real money:

finextra.com 08 Aug '13, 9am

Last month the Securities and Exchange Commission charged Trendon Shavers with running a bitcoin Ponzi scheme through his ...

US judge rules bitcoin ‘is a currency or form of money’

US judge rules bitcoin ‘is a currency or form o...

coindesk.com 07 Aug '13, 12pm

A judge in Texas has ruled that bitcoin is a currency or form of money, which gives the Securities and Exchange Commission...

A federal judge in Texas has determined that bi...

blogs.wsj.com 07 Aug '13, 11pm

You may not carry it in your wallet, but a federal judge in Texas has determined that bitcoin is indeed a form of money. B...

Judge to Bitcoin: You Are Money

wired.com 08 Aug '13, 10am

Casascius Bitcoins, physical coins that represent digital currency. Photo: Mike Caldwell Trendon Shavers recently turned u...

Federal Judge Declares Bitcoin a Currency

yro.slashdot.org 07 Aug '13, 10pm

"An East Texas federal judge has concluded that Bitcoin is a currency that can be regulated under American Law . The concl...

'Bitcoin is a currency': Federal judge says the...

nbcnews.com 08 Aug '13, 7pm

Shavers argues that the BTCST investments are not securities because Bitcoin is not money, and is not part of anything reg...

Bitcoin = Money, Says Judge - MoneyBeat - WSJ v...

blogs.wsj.com 07 Aug '13, 6pm

You may not carry it in your wallet, but a federal judge in Texas has determined that bitcoin is indeed a form of money. B...

Bitcoin is a legitimate form of 'currency,' a f...

news.cnet.com 08 Aug '13, 12am

The digital currency Bitcoin gained a measure of legitimacy this week when a federal judge ruled in a fraud case that Bitc...

A federal judge has ruled that Bitcoin is a leg...

news.cnet.com 08 Aug '13, 12am

The digital currency Bitcoin gained a measure of legitimacy this week when a federal judge ruled in a fraud case that Bitc...

Bitcoin is officially money in the US, rules ju...

mobile.reuters.com 07 Aug '13, 10am

Bitcoin exists through an open-source software program. It is not managed by any one company, it is not regulated by any c...

“Bitcoin is … money” — judge says SEC can target Ponzi schemer

“Bitcoin is … money” — judge says SEC can targe...

gigaom.com 07 Aug '13, 3pm

A Texas man who is being sued by security regulators for swindling investors failed to persuade a federal judge that the c...

Bitcoin is real money, says US district court

theverge.com 07 Aug '13, 6pm

The court's decision adds to a growing body of policy and law that says Bitcoin is a currency. Earlier this year, the US T...

A judge says Bitcoin is money. Doesn't matter. ...

lfb.org 09 Aug '13, 3pm

“Bitcoin was designed to reduce transaction costs, and allows users to work together to validate transactions by creating ...

Federal judge: Bitcoin, “a currency,” can be re...

arstechnica.com 07 Aug '13, 4pm

In the case of a Texas man accused of massive Bitcoin-based fraud, a federal judge has ruled that bitcoins are “a currency...