[2016-09-06]Florida Senator Drafting Bill That Could Recognize Bitcoin as Money

[Lucius]

Florida Senator Drafting Bill That Could Recognize Bitcoin as Money

A Florida state senator is drafting legislation that could see bitcoin recognized as money in the US state.

Senator Dorothy Hukill says that while in the early stages, the draft legislation will seek to balance protections for consumers and startups. The effort carries additional weight given that a Florida judge tossed out charges in a criminal case earlier this year on the grounds that bitcoin doesn't fit the state's definition of money transmission.

http://www.coindesk.com/florida-senator-drafting-bill-recognize-bitcoin-money/

[yayayo]

I think this move is motivated solely by the governments desire to expand it's AML/KYC surveillance doctrine to the Bitcoin space. At least I can't imagine that such legislation will have any positive effect for the average Bitcoin user, because the state is not in love with it since it competes with its fiat trash money that is an important source of power for the government. Bitcoiners are already using Bitcoin like money everyday - no matter what definition the various legal frameworks suggest, so adopting a law that simply asserts reality is not really innovative.

We have yet to see a government that realizes the economic potential that comes with fully adopting Bitcoin and promoting its use. Maybe this day never comes, because it requires too much vision...

ya.ya.yo!