Florida Judge to Rule If Bitcoin Is ‘Really Money’, Tomorrow
A Florida judge is scheduled to decide on July 1 if bitcoin is really money, according to American Banker. The judge is expected to rule whether a man charged with selling bitcoin to undercover police was violating the state’s anti-money launder law, as charged by law enforcement. The defense argues that bitcoin is personal property, so the man can’t be accused of operating an unlicensed money transmitter business. Police arrested Michel Espinoza in a Miami Beach motel in 2014 for agreeing to sell $30,000 worth of bitcoin to an undercover police officer he met on LocalBitcoins.com.....
Related News
The question of whether or not Bitcoin is money, property or a commodity took one step closer as a Federal judge ruled in the case of Robert Faiella, 54 and Charles Shrem, 24, that Bitcoin was money. This case is actually not the only ruling on the issue by US courts that called Bitcoin money. The judge did not agree with the defense's idea that Bitcoin was not money saying Bitcoin "clearly qualifies as 'money' or ‘funds.’” In this particular case, defendants were moving money through the Silk Road and the judge stated that since Bitcoin has a denominator of value (each Bitcoin is worth a....
From the situation surrounding the estate case of David Kleiman and Craig Wright, there is no possibility for a new trial. Though an Australian computer programmer, Craig Wright is reputable for his disputed claims as Bitcoin’s inventor. On Monday, Beth Bloom, the Florida judge presiding over the case, denied the request from Ira Kleiman’s attorneys […]
A Florida man charged with conspiring to operate an unlicensed money transmitting business has been released on a $75,000 bond following an appearance in a Manhattan court, according to Reuters. Prosecutors say the man, Ricardo Hill, 38, is the latest individual facing charges in connection with an illegal bitcoin exchange called Coin.mx owned by an Israeli accused of hacking JPMorgan Chase & Co. and other companies. eclined to comment. Nine people including Hill face charges following an investigation related to a data breach that involved more than 83 million accounts. JPMorgan....
A Florida circuit court judge has issued a ruling suggesting that individual bitcoin dealers could be considered money transmitters under state statutes. Lawyers representing the defendant, 29-year-old Pascal Reid, had sought to strike down the charge, one of three, on the interpretation that a state resident would need to be a money services business (MSB) or operating on behalf of such an entity to be in violation of the law. The decision, delivered today by Circuit Court Judge Fleur Lobree, argued that a
The US Treasury on Wednesday released a joint proposed rule from the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) that would put meat on the bones of the GENIUS Act, the federal law establishing a regulatory framework for stablecoins. The draft rule translates the statute’s requirements into concrete anti‑money‑laundering […]