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Federal Court Defines Bitcoin As Money To Pursue Money Laundering Case

Emily Mason

Summary: A federal court has ruled that Bitcoin is a form of money, according to case documents. Chief Judge Beryl A. Howell described money as something used for payments, storing value, or exchanging goods and services. He concluded that under this definition Bitcoin is a form of money.  This conclusion allowed the court to prosecute the ...

A federal court has ruled that Bitcoin is a form of money, according to case documents.

Chief Judge Beryl A. Howell described money as something used for payments, storing value, or exchanging goods and services. He concluded that under this definition Bitcoin is a form of money. 

This conclusion allowed the court to prosecute the operator of an unlicensed Bitcoin transmission platform for money laundering using the Money Transmitters Act.

By Emily Mason

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