April 11 2017
Yet another U.S. judge has ruled that bitcoin isn’t money. U.S. Magistrate Judge Hugh B. Scott ruled in a money laundering case in Buffalo, N.Y. that bitcoin is more like a commodity and is not a form of currency, according to a local news report. He recommended the money laundering charge be dropped against the defendant since bitcoin isn’t money.
Scott is not the first U.S. judge to rule that bitcoin is not money.