US court classified bitcoin as money

In one of the court proceedings in Washington, D.C., a citizen was accused of drivinga bitcoin mixer without obtaining an appropriate license for this.

In December 2019, the court brought charges on three counts, including money laundering, running an unlicensed monetary business, and engaging in money transfers without a license.

"After examining relevant laws, case law, and other sources, the court concluded that bitcoin is money, so Helix was engaged in 'unlicensed activities' under applicable federal law.", - written in the document dated July 24.

On the one hand, this particular decision has been made in favor of bitcoin, classifying it as money, although technically the coin does not fall under monetary classification.

Defendant Larry Dean Harmon ruledthe Helix business of hiding bitcoin transactions on the darknet. These mixers obfuscate bitcoin transaction data, making it difficult to track the sender and recipient.

From 2014 to 2017, about 354,468 BTC passed through his mixer, worth about $ 3.4 billion.

Harmon, in turn, called the accusations false,since nowhere else is bitcoin recognized as legal money. This situation indicates the need for clear crypto regulation, since new assets have already taken place in our lives, but have not received the proper legal basis.

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