Latest in Bitcoin

Image credit:

Texas federal judge declares Bitcoin a currency, says Bitcoin investments fall under US securities law

33 Shares
Share
Tweet
Share
Save

Sponsored Links

Bitcoin's been in the news a fair bit lately due to the uncertainties surrounding the Mt. Gox exchange, where one can trade in the digital money for the official currencies of countries around the world. However, for many, Bitcoin remains an ephemeral idea, neither received nor recognized as a valid way to, you know, pay for stuff. Today, however, a federal judge in the Eastern District of Texas has officially recognized Bitcoin as a currency and declared that Bitcoin investment funds and transactions fall under the jurisdiction of US securities law, and therefore, the federal justice system as well. The ruling was handed down in a case brought by the Securities and Exchange Commission against a man who created a Bitcoin hedge fund and is alleged to have defrauded the investors in that fund. So, while most of us don't have to worry about Bitcoin fraud, it's good to know that the federal government is looking out for us should we decide to invest in the digital currency.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
33 Shares
Share
Tweet
Share
Save

Popular on Engadget

Galaxy S20 and Galaxy Buds+ leak together in official-looking shots

Galaxy S20 and Galaxy Buds+ leak together in official-looking shots

View
India is now a larger smartphone market than the US

India is now a larger smartphone market than the US

View
Jeff Bezos' leaked text messages may have come from his girlfriend

Jeff Bezos' leaked text messages may have come from his girlfriend

View
Porsche's first Super Bowl ad in 23 years is for the electric Taycan

Porsche's first Super Bowl ad in 23 years is for the electric Taycan

View
Apple gets its WiLan patent payout reduced to $85.2 million

Apple gets its WiLan patent payout reduced to $85.2 million

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr