Bitcoin is not money, it's property

What's the first word that pops into your head when you hear Bitcoin? It's probably cryptocurrency, but a judge in Florida says this is wrong -- it's actually property. In a case relating to alleged money laundering, Judge Teresa Pooler ruled that the charges could not stick as Bitcoin was not money, and therefore could not be laundered. With the decision that Bitcoin cannot be considered a 'monetary instrument', this could have implications for future cases. Judge Pooler said that trying to apply financial legislation to Bitcoin was futile and inappropriate. As she put it: "attempting to fit the sale… [Continue Reading]