28 Sep '14, 1pm

4 Court Cases Helping Determine the US Stance on Bitcoin

4 Court Cases Helping Determine the US Stance on Bitcoin

While the bitcoin economy is currently backed by $284m in venture capital and has a growing band of high-profile supporters, it still operates in a regulatory grey area in its largest market. Unsurprisingly, just how the US will and should choose to regulate the digital currency is the subject of a continuing debate throughout all sectors of the ecosystem. But, while the media focuses largely on policymakers like those currently making waves in New York , the country’s courts may yet prove to have a deciding influence on the legal future of bitcoin. Last week Trendon Shavers made headlines when he was fined $40m for defrauding investors in a bitcoin Ponzi scheme. The case, brought by the Securities and Exchange Commission (SEC) in July 2013, created a broad first precedent for bitcoin when the judge ruled that bitcoin is a currency and a form of money. Other cases could al...

Full article: http://www.coindesk.com/4-court-cases-helping-determine-u...

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