Bitcoin’s Status Still Puzzles

Note from the CEO:  Well, lawyers are now trying to define bitcoin. Like, it depends on what your definition of “is bitcoin” is. Bill Clinton followers will get that. In any event, this is a very good article and shows exactly what regulators, central banks and governments are confronting. But don’t worry, by the time they figure it out, technology will have moved on to more advanced things.

“A recent court decision has thrown up even more confusion about the legal status of digital currency.  A state judge in Florida dismissed criminal charges against a man accused of selling $2,000 in Bitcoin. An undercover police officer had posed as a buyer, and after making two small transactions, revealed that he (the undercover agent) intended to use the Bitcoin to purchase stolen credit card numbers.  The officer then said he wanted to buy $30,000 of Bitcoin.  The two met to discuss the transaction, but before it was consummated, police arrested the man.  He was charged with running an unlawful money services business, and two counts of money laundering.”