KCN Florida wants bitcoin covered under money laundering law
Channel: KCN News
Date: 2017-04-26

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Criminals who deal in bitcoins in Florida could soon be busted for money laundering. Florida lawmakers want virtual currencies like bitcoin covered under the state’s money-laundering statute. The bill sponsored by local bureaucrats and the Miami-Dade Cyber Crime Unit will define bitcoin as a “monetary instrument” and criminals using “virtual currencies” can be prosecuted for money laundering charges. Some bitcoin supporters claim the law can undermine the cryptocurrency that could be helpful in promoting trade between Florida and nations like Venezuela that rely more on bitcoin.

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