Texas Federal Magistrate Reaffirms Ruling that Bitcoin is Money

Texas Federal Magistrate Reaffirms Ruling that Bitcoin is Money

The question of whether Bitcoin can be considered “money” from both a legal and tax perspective in the United States has been in the news a great deal recently, especially with multiple Judges ruling that Bitcoin was indeed money and the Internal Revenue Service (IRS) seeming to contradict the courts with a stance that deems Bitcoin as property. The latest chapter comes again from Texas and Federal Magistrate Judge Amos L. Mazzant. The case was filed against Bitcoin Savings & Trust founder Trendon T. Shavers, who is accused by Federal prosecutors of running a Ponzi scheme using Bitcoin.....


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