07 Aug '13, 11pm

A federal judge in Texas has determined that bitcoin is a form of money.

You may not carry it in your wallet, but a federal judge in Texas has determined that bitcoin is indeed a form of money. Bloomberg News As a result, Judge Amos Mazzant, sitting in U.S. district court for the eastern district of Texas, says he has jurisdiction over a case involving a man who has been accused by the Securities and Exchange Commission of running a virtual currency Ponzi scheme. The judge disagreed with contentions by Trendon T. Shavers that funds associated with his website called Bitcoin Savings and Trust shouldn’t be considered as securities because bitcoin isn’t considered to be money. “It is clear that Bitcoin can be used as money,” the judge wrote in an opinion issued on Monday. He noted that the virtual currency can be used to buy goods and services and exchanged for traditional currencies. “Therefore, Bitcoin is a currency or form of money and investor...

Full article: http://blogs.wsj.com/moneybeat/2013/08/07/bitcoin-money-s...

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