Bitcoin Isn’t Money, Florida Judge Rules in Laundering Case
A landmark criminal case believed to be the first involving a money-laundering charge involving bitcoin has seen its verdict. The criminal charges thrown out, with bitcoin not deemed to qualify as money, according to the ruling judge. Defendant Michell Espinoza was arrested in 201andmd charged with “illegally selling and laundering” $1,500 in bitcoin to an undercover law enforcement officer. Prosecutors alleged that Espinoza had violated Florida’s anti-money laundering law by operating as an unlicensed money transmitting business. However, Miami-Dade Circuit Judge Teresa Mary Pooler has....
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A Miami judge just ruled that Bitcoin is not money, and its sale unintentionally for illegal purposes does not constitute money laundering. In a money laundering case where Florida man Michell Espinoza was accused of laundering money by selling Bitcoin to detectives who implied they were going to use it for illegal activity, presiding judge Teresa Pooler ruled that Bitcoin does not qualify as a financial instrument. “The definition of “financial transaction is found in § 896.101(2)(d), Fla. Stat. A “financial transaction” is a “transaction… involving one or more monetary instruments, which....
The criminal case that sees Anthony Murgio – a Florida man charged with operating an illegal (unlicensed) bitcoin exchange – saw the presiding US federal judge reject a bid from Murgio’s defense that bitcoin did not classify as “funds”, which would deem it exempt from applicable federal laws. U.S. District Judge Alison Nathan in Manhattan has rejected Anthony Murgio’s claim to dismiss two charges related to his alleged involvement of unlicensed bitcoin exchange Coin.mx. In his bid, Murgio argued that bitcoin wasn’t money and therefore doesn’t fall under the purview of federal law of....
A Florida judge has dismissed long-standing charges against Michel Espinoza, accused since 2014 of illegal money transmission and money laundering for selling bitcoin. The case and decision are now likely to have widespread positive implications for Bitcoin in the South Florida region, said the defense’s main expert witness. Espinoza’s legal team had....
Is it possible to be laundering money with Bitcoin if it’s not legally considered money? A court case in Florida may be about to give us an answer. Can’t Launder Money If It’s Not Money. The by-now infamous case concerns Michel Espinoza, a young computer programmer and early bitcoin trader arrested in January 2014, and later charged with dealing in....
A money-laundering case in Miami is expected to determine what the future of Bitcoin in the U.S. will be. A 32-year-old Florida man is charged with attempted money-laundering after illegally selling $1,500 in Bitcoins. The essential question is: was it really money he was laundering? The verdict of Miami-Dade Circuit Judge Teresa Mary Pooler may serve as a landmark of what Bitcoin actually is from the US law’s viewpoint. It’s the fact that this is the first case of its kind which makes it so special. What are you Bitcoin? The actual history of Bitcoin use and officials’ attempts to....