Bitcoin Is Legally Recognized As Money In The USA

A court in the District of Columbia recognized the first cryptocurrency as money, which is therefore subject to money laundering legislation.

What is the case?

This interpretation of Bitcoin provides a legal basis for the court not to release the ex-head of Coin Ninja Larry Dean Harmon, who is accused of several financial crimes at once.

Articles of charge

  • Illegal activities focused on the transfer of funds;
  • laundering more than $300 million;
  • organization and management of a money transfer business without an appropriate license.

Judge's statement

The judge said: "Money usually means a mean of exchange, method of payment or store of value, and bitcoin fits these descriptions."