Florida Court Appeals For Bitcoin To Be Considered As Legal Tender

The Florida Third District Court has appealed earlier this week for Bitcoin to be considered as a legal tender since the number one asset does not correlate with the definition of money but still acts as a medium of exchange. In our bitcoin news below in the text, we are about to find out more.

Michell Espinoza, a resident of Miami Beach, was charged back in 2016 with two counts of money laundering because of operating as an unauthorized money transmitter while it was trading on the website LocalBitcoins.
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com. Teresa Pooler, the judge in the case, dropped it saying that Bitcoin is not considered as money according to the law in Florida.

Now, however, the Third District Court in Florida has taken the Espinoza case again and argued that despite the fact that Bitcoin is not proper money, is a medium of exchange and should be considered as a legal tender.

Since the beginning of Bitcoin, there are hundreds of debates about whether the asset should be considered as money. BTC users claim that Bitcoin is real money and argue that it can be used as a medium of exchange but that it can also be used as real money.
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The people who argue that bitcoin cannot be considered as money, state that Bitcoin is much more close to gold because of its constant fluctuating value and that it should go under security laws.

Despite the debates, some countries such as Venezuela, have already recognized Bitcoin as a legal tender.