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This defense seems doomed as money != a specific government-issued currency. IANAL but I suspect this is determined by an instrument serving enough of the under
by skeeter2020 5y ago
This defense seems doomed as money != a specific government-issued currency. IANAL but I suspect this is determined by an instrument serving enough of the underlying functions of currencies, which BC most certainly does.
Also, effective money laundering OFTEN involves the facilitators NOT knowing the nodes in the graph; that's what makes it effective in the first place.
- Turing_Machine 5y ago> This defense seems doomed as money != a specific government-issued currency. According to the statute in question (and also the Uniform Commercial Code), it is. The statute reads, in part, "Money,” in its common use, is some kind of financial instrument or medium of exchange that is assessed value, made uniform, regulated, and protected by sovereign power." Also: ... the Uniform Commercial Code defines money as “a medium of exchange *currently authorized or adopted by a domestic or foreign government...” I think they have a good argument. While Bitcoin is certainly "money-like", it does not appear to fit the U.S. government's current definition of "money".
- SomewhatLikely 5y agoFWIW El Salvador now accepts Bitcoin as legal tender.
- fennecfoxen 5y agoSupposedly. The rollout is a clown show. https://davidgerard.co.uk/blockchain/2021/07/11/el-salvador-bitcoin-bukele-scrambles-to-get-something-anything-into-place-by-7-september/ https://davidgerard.co.uk/blockchain/2021/07/11/el-salvador-...