The judge ruled that bitcoin is not money?

The judge ruled that bitcoin is not money?


Florida judge Monday (July 25th) rejected for a bitcoin sellers suspected of money laundering charges, the sellers are charged with unlawful remittance and money laundering in 2014.

Bitcoin seller MichellEspinoza was charged with three felonies related to money laundering in 2014, but help him wash all crimes is given a few weeks ago, a professor of economics.

Florida, Barry University (BarryUniversity) Professor CharlesEvans presented evidence at a hearing on May, “said bitcoin is more like people willing to buy from your hand poker chips”.

Florida judge Proell (TeresaMaryPooler) said bitcoin does not constitute “tangible wealth”, and “not like cash and gold bullion as under the mattress”.

The judge ruled that bitcoin is not money, because it cannot be hidden under the mattress

Proell added that bitcoin has not been incorporated into the legal government, but not to any bank support.

Proell wrote in the verdict, “the judge is not economic experts. But obviously, even in the knowledge in this field is very limited, people also understand that bitcoin is still a long way to go before becoming a monetary equivalent.”

After the sale to the agent in the $1500 worth of bitcoin, 33 year old MichellEspinoza was indicted, claiming that they intend to use digital currency to buy stolen credit card numbers. However, judge Proell believes that the legal basis of the case based on the “fuzzy too”.

Despite Monday’s ruling on Espinoza it is a comfort, a bitcoin management what happens next is still unknown. The states are still trying to cope with this problem, and at the federal level, and stop.

Observers believe that this ruling shows that Florida’s laws are not bitcoin and digital currency into account, this gap may eventually push the Florida state and other states of the formal legislation of digital currency.

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