09 Aug '13, 3pm

Federal Judge Rules Bitcoin Is A ‘Form Of Money’:

Federal Judge Rules Bitcoin Is A ‘Form Of Money’:

MCKINNEY, Texas (CBS Houston/AP) — A federal judge rules this past week that Bitcoin is a “form of money.” U.S. Magistrate Judge Amos Mazzant made the ruling Monday, stating that Trendon Shavers’ Bitcoin Savings and Trust investments “meet the definition of investment contract” and are securities. “It is clear that Bitcoin can be used as money. It can be used to purchase goods or services, and as Shavers stated, used to pay for individual living expenses,” Mazzant wrote in his opinion. Despite their being limitations to Bitcoin as to what governments accept it, the virtual currency is real currency. “[I]t can also be exchanged for conventional currencies, such as the U.S. dollar, Euro, Yen and Yuan. Therefore, Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money,” Mazzant wrote. Shavers, founder of Bitcoin Savings...

Full article: http://houston.cbslocal.com/2013/08/09/federal-judge-rule...

Tweets

Federal Court Rules That the Bitcoin Is Money

Federal Court Rules That the Bitcoin Is Money

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nbcnews.com 08 Aug '13, 7pm

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