[2016-08-06] Bitcoin not money, US judge rules in victory for backers

Dagmon

newbie

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Quote from: protokol on August 06, 2016, 07:08:56 PM

This news seems very bullish to me, the way I see it this is setting a precedent for bitcoin related businesses in America.

It's weird that NY spent ages pushing through "bitlicenses" but Florida has just implied "do whatever you want guys, it's not money so it's cool with us..."

The law can be changed in the future to declare that the bitcoin is money. It depends on the further development of bitcoin.

protokol

legendary

Activity: 1188

Merit: 1016

This news seems very bullish to me, the way I see it this is setting a precedent for bitcoin related businesses in America.

It's weird that NY spent ages pushing through "bitlicenses" but Florida has just implied "do whatever you want guys, it's not money so it's cool with us..."

sirohige

hero member

Activity: 784

Merit: 500

The July 22 ruling by Miami-Dade Circuit Judge Teresa Pooler means that no specific license is needed to buy and sell bitcoins.

The judge dismissed a case against Michel Espinoza, who had faced money laundering and other criminal charges for attempting to sell $1,500 worth of bitcoins to an undercover agent who told the defendant he was going to use the virtual money to buy stolen credit card numbers.

Espinoza's lawyer Rene Palomino said the judge acknowledged that it was not illegal to sell one's property and ruled that this did not constitute running an unauthorized financial service.

"He was selling his own personal bitcoins," Palomino said. "This decision clears the way for you to do that in the state of the Florida without a money transmitting license."

https://au.news.yahoo.com/world/a/32254650/bitcoin-not-money-us-judge-rules-in-victory-for-backers/#page1

Topic: [2016-08-06] Bitcoin not money, US judge rules in victory for backers (Read 336 times)