Bitcoin isn’t issued by the government nor can it be deposited in a bank. So should it be subject to the same federal banking rules as traditional paper and coin brain wallet bitcoin? Morgan Rockcoons takes a selfie while in San Diego for a court appearance.
It is a question that federal authorities have been grappling with ever since digital currency took off a decade ago, one that will now be heard in a San Diego courtroom with the indictment of Morgan Rockcoons. The case has re-energized the debate over how the virtual currency marketplace is regulated and whether such criminal prosecutions can stand up in court. Most cases have, but judges in a few prosecutions have taken provocative positions that bitcoin is not currency, suggesting the issue is far from being case-closed. A bitcoin prosecution has not yet been tested in the U. Could the Rockcoons case break any new legal ground?