- 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.
- The court's comments mean bitcoin "is treated as money in the context of money transmission licensing in D.C., nothing more," said Neeraj Agrawal, director of communications at Coin Center, a cryptocurrency public policy think tank.
Update (July 24, 17:13 UTC): This article has been updated with a comment from Coin Center.
Update (July 24, 17:29 UTC): This article has been updated with background information on U.S. v. Harmon.
Update (July 24, 19:41 UTC): This article's headline has been updated to further clarify the decision applies to money transmission in Washington, D.C.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.