Bitcoin Is Legally Recognized As Money In The USA
A court in the District of Columbia recognised 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
The judge said: "Money usually means a mean of exchange, method of payment or store of value, and Bitcoin fits these descriptions."