BITCOIN IS “MONEY” FOR PURPOSES OF A MONEY TRANSMISSION LAW, SAYS FEDERAL COURT

On 14 August, an article from Morrison & Foerster about a case in the District of Columbia said that a recent federal district court ruling in a criminal AML case suggests that the transmission of virtual currency on behalf of another person requires a state money transmission licence — even if the state’s money transmission law does not expressly address the regulation of virtual currency.

https://www.mofo.com/resources/insights/200814-bitcoin-is-money.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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