“Bitcoins are Funds” Proclaims US Federal Judge in Coin.mx Exchange’s Case

[kreslik.news]

US Federal Judge Alison Nathan from the District of Manhattan has given an expected endorsement of the validity of cryptocurrencies as functioning legal tender. Ruling in the case of “Unlawful Bitcoin Exchange” Coin.mx he rejected the claim that Bitcoin isn’t money and therefore existing laws are not applicable to it.

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The judge determined: “Bitcoins are funds within the plain meaning of that term. Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources ... (read more)