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Is Bitcoin an Official Currency

Thursday August 8,2013 : BITCOIN IS OFFICIALLY A CURRENCY?
 
Texas judge says so
 
The specialised publication CoinDesk reports that a judge in Texas has ruled that Bitcoin is a currency or form of money, which gives the U.S. Securities and Exchange Commission the go-ahead to sue Ponzi scheme operator Trendon Shavers.
 
US magistrate judge Amos L. Mazzant heard the SEC’s case against Shavers, founder and operator of Bitcoin Savings and Trust (BTCST), formerly known as First Pirate Savings & Trust.
 
CoinDesk reports that Shavers enticed people to invest in BTCST with the promise of 1 percent interest per day. Some investors suffered losses, totalling 263,104 BitCoins, which equates to around $25 million, based on current exchange rates.
 
The SEC is claiming that Shavers defrauded investors and that the BTCST investments are classed as securities, as defined by Federal Securities Laws. Shavers, however, argues the BTCST investments are not securities because Bitcoin is not money, nor is it part of anything regulated by the US authorities.
 
Judge Mazzant ruled: “Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money. … For these reasons, the Court finds that it has subject matter jurisdiction over this matter.”
 
Constance Choi, general counsel at Payward Inc, told CoinDesk that the ruling signals that state courts and regulators are starting to pay attention to Bitcoin and are beginning to take positions on where it fits within existing legal regimes and asset classes.
 
“In this case, one judicial authority in Texas appears to have preliminarily classified it as currency or form of money. By labelling it as a ‘currency’, this Texas court is in direct contradiction of the FinCEN guidance, which expressly stated that virtual currencies like bitcoin are not ‘currency’, such as legal tender or fiat currencies,” she pointed out, adding that coming from a relatively low level court, the finding could be subject to overturn by a higher judicial authority.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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