Bitcoins legally qualify as money according to a US judge who dismissed a request to drop a criminal case involving the virtual currency, reports Bloomberg.
According to Bloomberg, Robert Faiella allegedly ran an illegal underground Bitcoin exchange but argued that “he can’t be convicted of operating an unlicensed money-transmitting business because bitcoins aren’t money.”
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U.S. District Judge Jed Rakoff disagreed, ruling that bitcoins are money. Faiella will still face trial for the charges against him in September.
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