Florida Judge to Rule If Bitcoin Is ‘Really Money’, Tomorrow

Florida Judge to Rule If Bitcoin Is ‘Really Money’, Tomorrow

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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.

Prosecutor Cites State Statute

Prosecutors claimed Espinoza violated Florida’s anti-money laundering law for operating an unlicensed money transmitting business.

The defense claimed the laws don’t apply because Espinoza was selling bitcoin, not money.

Charles Evans, an economics professor at Barry University, acting as a defense witness, told the court in January no central government or

Read more ... source: TheBitcoinNews

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