Depending on how one wants to look at the situation, the judge ruling Bitcoin isn’t money is both good and bad at the same time. The judge ruled Bitcoin to be property, which may very well set a precedent for future Bitcoin-related court cases. As a result of this ruling, one man convicted of selling “illegally obtained’ bitcoins had both charges dismissed.

Bitcoin Is A Property, Which Is Good

This entire court case dates back several years, as one man was accused of selling illicitly obtained bitcoins to undercover

Due to this arrest, the man was facing two different charges:

Florida Judge Pooler was appointed this case, and after thoroughly reviewing all of the evidence, she declared Bitcoin is property and not money. After all, if Bitcoin isn’t money, one can’t be a money transmitter. Nor can one be involved in laundering money, unless property laundering becomes a new criminal offense in the next few decades.

The bigger question is what this decision will do to the status of Bitcoin in the United States. Granted, this decision should only affect the state of Florida, for now, and this ruling is not a guarantee every Bitcoin case will be deemed to be “property” instead of money. However, it does set an interesting precedent that may have much bigger ramifications moving forward.

One thing to keep in mind is the “verdict” on Bitcoin is not in the hands of court judges, unfortunately. Policymakers will shape the future of cryptocurrency in the coming years, and they may feel incentivized to have it labeled as money as a result of this court case. Either way, this is positive Bitcoin news, for now.

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