DC Federal Court Rules BTC "A Form of Money"

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We are continually seeing Bitcoin being thrust in the limelight. From all the way up top with U.S. President Trump tweeting about the dark side of Bitcoin and calling it a tool for criminals all the way down to small local governments talking about digital dollars and the potential benefits they bring to citizens.

With all of this attention comes a lot of good and bad.

Lately, we have seen a rise in good rulings on behalf of Bitcoin. 2 days ago, headlines were made when clarifications were made in the United States regarding Bitcoin and digital currencies being legal tender in a bank account.

This DC court ruling that dropped today is another decent example of Bitcoin coming out ahead in its ongoing battles for legitimacy:

"In the case of United States v. Harmon, Chief Judge Beryl A. Howell wrote that money is "commonly means a medium of exchange, method of payment, or store of value.”

"Bitcoin is these things," Judge Howell added."

While this doesn't change much, it just adds another layer to the ongoing narrative that Bitcoin is a legitimate form of currency and value transfer.

I believe that we're still early in the stages of seeing Bitcoin/crypto adopted worldwide. When will other currencies like Hive follow suit?

My personal bet is that Bitcoin (and even ETH) take on the front lines of the attack on regulation and the establishment.

As these top dogs get adopted and accepted, we'll see people become "crypto curious"... we all know how crypto curiosity plays out: people will fall down the rabbit hole of crypto and land on places like Hive where they can learn, earn and prosper on an active blockchain that improves their live rather than just lets them speculate on token prices.

Posted Using LeoFinance



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3 comments
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(Edited)

The best way to control anything is to recognize it legally. Here in Canada our governments are finally wising up to this with pot, mushrooms, and other drugs. Bitcoin becoming recognized by the establishment in America is not surprising given that US government spending never stops going up, and they need more things to tax. I think thats really what its about, taxes. They can't stop crypto because its like the hydra, cut off one head and two more appear. If they make it illegal then they can't control it or tax it, and then it threatens to take over the US Dollar. If you can't beat em, join em.

Also, Trump is a tool for criminals 😁 He needs to look in the mirror.

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I think you are right, the recognition and acceptance BTC gets the more people will look into it with less fear. I think this will cause a chain reaction to accept many other forms of crypto also. Nice post.

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