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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.
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