Florida Ruling Denying Bitcoin As a Currency Draws Mixed Reactions

Bitcoin experts gave different reactions to the Florida court ruling last week that bitcoin is not currency, according to CNBC, including the view that the ruling doesn’t have much impact on the cryptocurrency’s future. Florida judge Teresa Pooler dismissed felony charges against Michell Espinoza who sold bitcoins to an undercover detective. Pooler ruled that bitcoins are not tangible wealth. She noted bitcoins cannot be hidden under a mattress like gold bars and cash. The prosecution charged Espinoza with violating an anti-money laundering statute. Judge: Bitcoin Not There Yet. Pooler....

The US Securities and Exchange Commission (SEC) has issued a dire warning to accounting firms conducting audits in the crypto asset space. In a statement released on July 27, SEC Chief Accountant Paul Munter expressed concerns about the potential for misleading information to be presented to investors through non-audit work, which he argued is not […]

While the U.S. ramps up discussions of a digital dollar and China’s central bank digital currency (CBDC) draws near, Japan’s CBDC, otherwise known as the digital yen, is getting closer to its realization as well. Japan’s ruling Liberal Democratic Party member, Hideki Murai, explained in a recent interview this week that more clarity on the digital yen would be revealed next year. Ruling Liberal Democratic Party Member Hideki Murai Says Clarity on the Bank of Japan’s CBDC Is Coming Next Year In recent times, Japan has been discussing the creation of a digital yen....

The state of Florida has appealed a recent court decision that saw a judge dismiss charges against a local bitcoin seller. The news marks the latest twist in Florida v Michell Espinoza, a case filed in 2014 in which a Florida-based bitcoin seller was brought up on charges for unlicensed money transmission and money laundering. The case is best known for a decision by Judge Teresa Mary Pooler in which she sided with Espinoza's attorneys when they argued that bitcoin doesn't qualify as money. She wrote in her decision at the time that she believes it remains difficult to "accurately....

A Miami judge has dismissed charges against a Florida-based bitcoin seller after he was indicted in 2014 on illegal money transmission and money laundering charges. Judge Teresa Mary Pooler sided with the defense's argument that bitcoin doesn't constitute a form of money within the confines of Florida’s legal system, stating in a ruling issued today that Michell Espinoza doesn't qualify as a money transmitter as argued by the prosecution. The case was tried in the Eleventh Judicial Circuit of Florida. Observers say that the ruling exposes how state statutes don’t account for bitcoin and....