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Us Federal Court Ruling — Bitcoin Is a Form of Money

A US Federal Court said Friday that bitcoin is a form of money covered under the Washington D.C., Money Transmitters Act (MTA). The court made this conclusion as it denied a motion to dismiss criminal charges against Larry Dean Harmon, the operator of an underground bitcoin trading platform. In December 2019, a federal grand jury in the District of Columbia indicted Harmon for conspiracy to launder monetary instruments, in violation of state laws. However, Harmon moved to dismiss citing “failure to state an offence.” Harmon’s move forced the court to determine if bitcoin met the definition of money for purposes…

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