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Bitcoin Deemed As Legal Tender By Florida Court

Earlier this week, Florida’s Third District Court of Appeal ruled for Bitcoin to qualify as money in a case that turned on whether the digital currency is the driver for financial crime. According to ZyCrypto:

“The appellate court’s opinion reverses Miami-Dade Circuit Court Judge Teresa Pooler’s 2016 finding that digital or cryptocurrency could not be considered money under Florida law. The case in question concerned Miami Beach resident Michell Espinoza, charged with two counts of money laundering and acting as an unauthorized money transmitter operating a digital currency-trading website,’’

Although Judge Pooler’s ruling had dismissed the charges against Espinoza, the district court claims that Bitcoin “does not expressly fall under the definition of currency” found in the Florida Statute but crypto coins do constitute payment instruments. This means that the ‘payment instrument’ is also known as ‘monetary value’ is a medium of exchange whether it’s…

Read Full Story : Crypto Daily™

2019-02-03 21:30:00

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