28 Jul '16, 1pm

Why Florida's 'Bitcoin Isn't Money' Ruling Could Have Limited Impact - CoinDesk

Why Florida's 'Bitcoin Isn't Money' Ruling Could Have Limited Impact - CoinDesk

Stephen D Palley is a lawyer in private practice in Washington, DC, focusing on construction, insurance and software development, including blockchain and smart contract design. In this opinion piece, Palley argues that a recent court case in which bitcoin was deemed not be "money" has questionable precedential value despite claims to the contrary. A Miami, Florida, trial court recently dismissed a criminal case against a defendant who had sold bitcoin to a police detective as part of an undercover investigation. The case, Florida v Espinosa , has been already been cited by some potentially important precedent for future cases, particularly those where bitcoin's status as "money" or "currency" is at issue. Bitcoin industry advocates will also cite the case when arguing for legislative reform and greater regulatory clarity. But, as legal precedent, Espinosa 's value may be ...

Full article: http://www.coindesk.com/florida-bitcoin-money-legal-system/

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Is Bitcoin real money? Florida judge says no

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