The article is not great. Basically, the guy who ran Bitcoin Savings and Trust decided as part of his defense to argue that he couldn't be prosecuted under fed

The article is not great. Basically, the guy who ran Bitcoin Savings and Trust decided as part of his defense to argue that he couldn't be prosecuted under federal securities law because what he was doing didn't meet the definition of "securities", since -- and this was the defendant's argument -- Bitcoin isn't money. The judge basically took a look at this, said "it walks like a duck and quacks like a duck", and ruled that for purposes of this prosecution under securities law, yes, Bitcoin is money and Bitcoin investments are securities.