Miami Judge Declares Bitcoin Is Not Money

Miami Judge Declares Bitcoin Is Not Money

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....


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Michell Espinoza Case: Bitcoin Can’t Be Considered as Money

The judgement in the Michell Espinoza money laundering and illegal bitcoin sales case has declared that Bitcoin can't be considered as money. The recent judgement by the Miami-Dade Circuit Court declares that the popular digital currency, Bitcoin can’t be considered as money. The decision made by Judge Teresa Mary Pooler exonerates Michell Espinoza from the charges of illegally selling virtual currency and money laundering. Michell Espinoza, the defendant in the case was arrested by the police as a result of an undercover operation. He was caught while attempting to sell $1500 worth of....