Bitcoin’s Property, Not Cash

Note from the CEO:  Well, the FintekNews team is a bit confused on this ruling.  We considered bitcoin to be money but the judge says no, its property.  We challenge the judge to put his house or lawnmower in his wallet.  We smell appeal here.

“Depending on how one wants to look at the situation, the judge ruling Bitcoin isn’t money is both good and bad at the same time. The judge ruled Bitcoin to be property, which may very well set a precedent for future Bitcoin-related court cases. As a result of this ruling, one man convicted of selling “illegally obtained’ bitcoins had both charges dismissed.

This entire court case dates back several years, as one man was accused of selling illicitly obtained bitcoins to undercover law enforcement officials in exchange for cash. All of this took place back in 2013, during a time when there were even more questions than answers regarding Bitcoin than there are right now.”

Read Full Article at TheMerkle