10 Aug '13, 1pm

Bitcoin Declared Money By Federal Court (Video)

Bitcoin Declared Money By Federal Court (Video)

This is a victory for those who want to get out of the “normal’ monetary system. A judge ruled in federal court that Bitcoin was money and not some sort of currency scheme or Ponzi scheme. When the Securities and Exchange Commission (SEC) charged Trendon Shavers, the founder of Bitcoin Savings and Trust (BTCST) with running a Ponzi scheme, Shavers challenged the agency by claiming that bitcoins didn’t fall under their definition of securities and so therefore he and his company were exempt from SEC rules. Federal Judge Amos Mazzant ruled otherwise, which was bad news for Shavers but good news for bitcoin owners who have been using the digital currency as money ever since it was invented in 2009. Said the court: 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. The ...

Full article: http://beforeitsnews.com/the-law/2013/08/bitcoin-declared...

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Federal Court Rules That the Bitcoin Is Money

Federal Court Rules That the Bitcoin Is Money

infowars.com 10 Aug '13, 1pm

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