http://www.forexminute.com/bitcoin/bitcoin-news-mash-bitcoin-money-chain-receives-9-5m-42372Federal Judge Calls Bitcoin Money
Robert Faiella, an individual accused for illegally selling $1 million worth Bitcoin to Silk Road users, recently urged a New York federal judge to write him off the charges of money laundering, citing that Bitcoin is not actually money but an asset. However, the accused plea was outright rejected by the judge who went by dictionary which terms Bitcoin as any other form of payment like fiat currencies. Further explaining his reasons for turning down Robert’s request, the judge said that Bitcoin is available to trade on multiple exchanges in exchange of other legal currencies. It thus acts like a denominator of value, and further used in making financial transactions.
