Bitcoin Is Money, U.S. Judge Says in Case Tied to JPMorgan Hack
Bitcoin qualifies as publicity, a federal authority resolute on Monday, in a determination linked to a iniquitous predicament aggravate hacking attacks resisting JPMorgan Chase & Co. and other companies.
U.S. District Authority Alison Nathan in Manhattan exceptional a bid by Anthony Murgio to send-off two beak cognate to his alleged influence of Coin.mx, which prosecutors entertain spectryd an republican bitcoin vary.
Murgio had argued that bitcoin did not fit as "funds" below the federal law prohibiting the influence of republican publicity transmitting businesses.
But the authority, affect her assistant Jed Rakoff in an uncognate 2014 predicament, said the potential publicity met that specification.
"Bitcoins are funds among the uninterrupted aim of that signal," Nathan wrote. "Bitcoins can be trustworthy as a acquittal for chattels and services or bought at-once from an vary delay a bank representation. They consequently production as pecuniary instrument and are used as a moderation of vary and a resources of acquittal."
The determination did not address six other iniquitous counts that Murgio faces, Nathan wrote.
Brian Klein, a counsellor for Murgio, said he disagreed delay the determination.
"Anthony Murgio maintains his inoffensiveness and looks anxious to determine his spectry at his upcoming temptation," he borrowed.
Prosecutors conclusive year pregnant Murgio aggravate the influence of Coin.mx, and in April pregnant his senior Michael delay participating in bribery aimed at supported it.
Authorities entertain said Coin.mx was owned by Gery Shalon, an Israeli man who, concurrently delay two others, was pregnant delay popular a sprawling computer hacking and robbery plan targeting a dozen companies, including JPMorgan, and exposing peculiar axioms of more than 100 darling community.
That alleged plan generated hundreds of darlings of dollars of gain through pumping up supply prices, online casinos, publicity laundering and other illicit immateriality, prosecutors entertain said.
Shalon has pleaded not defiled, and is substance held at the Metropolitan Correctional Center in Manhattan. He paid new counsellors conclusive month and is seeking sufferance to reinstate counsellors who added the predicament in June, a Monday seek filing showed.
The predicament is U.S. v Murgio et al, U.S. District Court, Southern District of New York, No. 15-cr-00769.
(Reporting by Jonathan Stempel in New York; Editing by David Gregorio and Diane Craft)