Daily Archives: August 10, 2013

Federal Court Rules That the Bitcoin Is Money

When the Securities and Exchange Commission (SEC) chargedTrendon Shavers, the founder of Bitcoin Savings and Trust (BTCST) with running a Ponzi scheme, Shavers challenged the agency by claiming that bitcoinsdidn’tfall under their definition of securities and so therefore he and his company were exempt from SEC rules.Federal Judge Amos Mazzant ruled otherwise, which was bad…

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