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07-27-2016, 04:51 PM
Money or property? The answer has big implications for bitcoin.
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A judge in Florida ruled in a money-laundering case this week that bitcoin is **t a currency — but experts aren't so sure.*
Miami-Dade Circuit Judge Teresa Mary Pooler dismissed charges (http://www.miamiherald.com/news/local/crime/article91682102.html) Monday against a Florida man charged with illegally transmitting and laundering $1,500 in bitcoin.*
He couldn't launder or illegally transmit any money, Pooler said, because bitcoin doesn't qualify as a currency. The reason, she elaborated, is that it does **t have tangible, real-world value.*
Instead, bitcoin is property, the ruling said.*
The electronic currency was created in 2009 and has grown exponentially in popularity since then. The digital currency first found popularity on the dark web (most **tably the Silk Road marketplace (http://mashable.com/2013/10/02/silk-road-drug-dealer-interview/)) as a way to exchange goods without the introduction of national currencies.* Read more... (http://mashable.com/2016/07/27/bitcoin-currency-florida-judge/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Bitcoin (http://mashable.com/category/bitcoin/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial) and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/N806slew7aY
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A judge in Florida ruled in a money-laundering case this week that bitcoin is **t a currency — but experts aren't so sure.*
Miami-Dade Circuit Judge Teresa Mary Pooler dismissed charges (http://www.miamiherald.com/news/local/crime/article91682102.html) Monday against a Florida man charged with illegally transmitting and laundering $1,500 in bitcoin.*
He couldn't launder or illegally transmit any money, Pooler said, because bitcoin doesn't qualify as a currency. The reason, she elaborated, is that it does **t have tangible, real-world value.*
Instead, bitcoin is property, the ruling said.*
The electronic currency was created in 2009 and has grown exponentially in popularity since then. The digital currency first found popularity on the dark web (most **tably the Silk Road marketplace (http://mashable.com/2013/10/02/silk-road-drug-dealer-interview/)) as a way to exchange goods without the introduction of national currencies.* Read more... (http://mashable.com/2016/07/27/bitcoin-currency-florida-judge/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Bitcoin (http://mashable.com/category/bitcoin/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial) and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/N806slew7aY