28 Jul '16, 11pm

Florida Judge Rules Bitcoin is not Money

On July 25, a Florida Circuit Court judge dismissed state criminal charges against a defendant who attempted to sell bitcoins for $30,000 in cash on the ground that bitcoins are not money. Defendant Michell Abner Espinoza allegedly had agreed to sell bitcoins to an undercover Miami Beach police detective who had indicated that he would use the bitcoins to purchase stolen Russian credit-card numbers. Espinoza was charged with one count of unlawfully engaging in business as a money transmitter and two counts of money laundering. Espinoza argued that he had not committed any crime as bitcoin was not money and the purchaser’s intended use for the bitcoins was not his concern. In her opinion , the judge dismissed all charges on the grounds that “bitcoin has a long way to go before it is the equivalent of money,” stating that “Bitcoin may have some attributes in common with what...

Full article: http://www.jdsupra.com/legalnews/florida-judge-rules-bitc...

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Is Bitcoin real money? Florida judge says no

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