A US federal judge has found Bitcoin to be "a kind of currency". The fact that you can indeed exchange it for other currency seemed to convince the judge. Find a subscript of the district courts ruling here.
The original article offers the explantion that it enables US law enforcement to continue the case against Trendon Shavers aka "pirateat40" who was accused to have run a Bitcoin investment snowball system in which the "returns" to former investors are comprised of the deposits of new investors. The defendant is said to have acquired 700.000 Bitcoin this way with a promised return of about 7%.
The defense argument was the invalidity of Bitcoin as real currency, hence no money flow. The judge though deemed the acceptance rate and usability of Bitcoin as sufficient enough to serve as money or money substitute.
Back in march other rulings already decided that Bitcoin is subject to the money laundering laws in the States and supporters of Bitcoin hope the current case will instill further trust in the digital currency. (article source)
I will keep you updated on further happenings!
Happy day and see you soon.
Tim
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