Bitcoin May Be Recognized As Money In Florida

News and Analysis

Currently, the legislation that accepts Bitcoin as money is being drafted. This event could be a consequence of Florida court dismissing charges against Florida-based bitcoin reseller, due to not considering Bitcoin as money.

Senator Dorothy Hukill said that it’s crucial to understand how to regulate such substance as Bitcoin, so the authorities could be provided with an ability to protect its constituents.

“I think you have to recognize it at some level, so you can legislate and protect your constituents. Then you have to figure out what you recognize it as and how you regulate it,”  senator Hukill told CoinDesk.

Hukill’s office aims to submit the bill after the election day in early 2017, as some sections of the bill still are in development.

Today many states are already moving towards any kind of regulation for Bitcoin, for the same reason Hukill explained. So in the nearest future, we could expect some movement in this area.


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