Judge Pooler’s View of Bitcoin Leads to a Debate on Bitcoin’s Status

Judge Pooler’s recent decision to not consider bitcoin as a currency has sparked a debate among the digital currency community about the digital currency’s status. Read more…
What is Bitcoin? If you ask a Bitcoin user, he will call it a form of currency similar to the US dollar or the British Pound Sterling. However, when it comes to the government bureaucracy and the judiciary the answer isn’t that simple. The debate about whether Bitcoin is a currency or a commodity is reignited following the recent judgement in a lawsuit against Michell Espinoza.
Michell Espinoza, who was charged with money laundering and illegal selling of digital currency was cleared of all charges. Florida Judge Teresa Pooler, presiding the case declared that Bitcoin still has a long way to go before it is considered as money. While it turned out to be a good thing for Michell, the digital currency community is finding it hard to digest the judgement.
READ MORE: Michell Espinoza Case: Bitcoin Can’t Be Considered as Money
A recent article on one of the leading business news portal has quoted several people with interests in Bitcoin and other digital currencies criticizing the Judge’s decision.

This post was published at NewsBTC on 9:01 pm July 30, 201.