Bitcoin Is a Form of Money in DC, Federal Court Rules
- In the case ofÂ United States v. Harmon, Chief Judge Beryl A. Howell wrote that money is âcommonly means a medium of exchange, method of payment, or store of value.â
- âBitcoin is these things,â JudgeÂ Howell added.
- Defining bitcoin as money was integral to the courtâs decision to not dismiss criminal charges against Larry Harmon, the operator of an unlicensed bitcoin trading platform, for laundering money under federal law.
- The courtâs comments mean bitcoin âis treated as money in the context of money transmission licensing in D.C., nothing more,â said Neeraj Agrawal, director of communications atÂ Coin Center, a cryptocurrency public policy think tank.
Update (July 24, 17:13 UTC): This article has been updated with a comment from Coin Center.
Update (July 24, 17:29 UTC): This article has been updated with background information on U.S. v. Harmon.
Update (July 24, 19:41 UTC): This articleâs headline has been updated to further clarify the decision applies to money transmission in Washington, D.C.
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