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Miami FL: Florida Judge Overturns Ruling that Bitcoin Isn’t Money

 

(To read more of the latest southeast fintech news, go to the home page)

02 06Posted February 06, 2019

As local news outlet Miami Herald reported January 30, Michell Espinoza, who sold bitcoin worth around $1350 to an undercover police detective in 2014, will now face a jury.

Prosecutors argue Espinoza should have registered as a money transmitter before advertising services on P2P trading platform Localbitcoins. A settlement in 2016 threw out the charges after a judge agreed Bitcoin was not legally money.

“Basically, it’s poker chips that people are willing to buy from you,” a defense witness said in court at the time.

The Third District Court of Appeal, however, has other ideas.

“Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter,” the Herald quotes lawmakers as saying Wednesday.

A trial date has not yet materialized.

Read the rest here

 

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Fintech Southeast

  • Read FT SE News
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    • Fintech SE Insights
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  • Events
    • Global
      • 2018 NY Empire Fintech Conference
      • London Fintech Week 2018 Highlights
    • Southeast
      • Charlotte: Fintech Generations 2018
      • Miami: North American Bitcoin Conference 2018
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  • SE FT Region
    • SE Region Tweets
    • Alabama
    • Florida
    • Georgia
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    • North Carolina
    • South Carolina
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  • About Fintech SE
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