U. S. District Judge Says Bitcoin Qualifies as 'Money' or 'Funds'
A U. S. District Judge has disagreed with arguments that bitcoin doesn't qualify as money in an ongoing case relating to 54-year-old Florida man Robert Faiella. Faiella's legal counsel had attempted to make that cause that the defendant should have one of two charges against him dismissed (operating an unlicensed money transmitting business) because, well, bitcoin isn't money. But the Judge, Jed Rakoff, swatted down the argument, stating that bitcoin "clearly qualifies as 'money' or 'funds,'" by definition. "Bitcoin can be easily purchased in exchange for ordinary currency, acts as a....
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The question of whether or not Bitcoin is money, property or a commodity took one step closer as a Federal judge ruled in the case of Robert Faiella, 54 and Charles Shrem, 24, that Bitcoin was money. This case is actually not the only ruling on the issue by US courts that called Bitcoin money. The judge did not agree with the defense's idea that Bitcoin was not money saying Bitcoin "clearly qualifies as 'money' or ‘funds.’” In this particular case, defendants were moving money through the Silk Road and the judge stated that since Bitcoin has a denominator of value (each Bitcoin is worth a....
A US district judge has denied a motion by the one of the founders of early digital currency firm Liberty Reserve to dismiss a federal indictment filed two years ago. According to court documents, Arthur Budovsky asked the judge to waive the indictment on multiple grounds in June, raising questions about whether the firm, based in Costa Rica, was required to register as a money services businesses and whether bitcoin qualifies as "funds". US District Judge Denise Cote of the Southern District of New York rejected Budovsky's motion, which will set the stage for Budovsky to head to trial.....
To be money, or not to be money? That is the question when it comes to Bitcoin. Many people around the world have a very vague understanding of what money actually is, and this can certainly extend to the judges at federal levels, who are now having to wrestle with this definition. In a new case dealing with a recently hacking of J.P. Morgan Chase, and other financial companies, a New York Federal District Judge has ruled that Bitcoin does indeed qualify as money. According to Reuters, Anthony Murgio is seeking to dismiss charges against him related to his alleged operation of the Bitcoin....
During a hearing in Tacoma, Washington, a US District Court Judge made some critical comments regarding the security of the anonymity software, Tor. FBI Can Crack Tor “Like Eggshells”. US district judge, Robert J. Bryan, made public record some thoughts he had regarding Tor. According to the judge, it was not wise to use the anonymity software as he believes the FBI “can go through that like eggshells.” What’s more is that Robert J. Bryan is the same judge who suppressed FBI evidence in the child pornography case that was obtained using the now infamous Tor exploit, commonly referred to as....
On September 19 U.S. Federal Judge Alison Nathan in Manhattan declared Bitcoin is money. The judgment follows the recent Florida ruling in which the Judge decided the opposite — that Bitcoin is not money. The decisions in both states show U.S. officials don’t see eye to eye on classifiying cryptocurrency. New York Federal Judge Deems Bitcoin as Money.....