Florida Court Explains Why Bitcoin is Not Money

BitcoinHaving just gotten around to reading the order granting the motion to dismiss in the proceedings of the State of Florida vs. Michell Abner Espinoza, the document by Circuit Court Judge Teresa Pooler, is pretty interesting.  The case regarding Espinoza has been in the news for many months now, but the final ruling was just filed in July. The case has been described as defining whether or not Bitcoin is money. Regardless of any ramifications, the argument as presented by the defendant and the Judge are pretty interesting.

If you have not read about the case, in brief, Michell Abner Espinoza was being prosecuted for money laundering and unlawful money services.  The US Secret Services Miami Electronic Task Force

Money Dollars Art 100The US Secret Services Miami Electronic Task Force decided to swing by CraigsList (of course) and localbitcoins.com to see what they could dig up. Seeing an advertisement that explained the defendant was willing to sell Bitcoin in person for cash, the Feds thought they had uncovered something nefarious. A meeting was set up at the Nespresso Cafe where .40322580 Bitcoins were sold for $500.

Read more ... source: TheBitcoinNews