A federal judge in New York has ruled that bitcoin constitutes a form of money.The ruling comes from the ongoing case involving the now-defunct Florida bitcoin exchange Coin.mx and one of its former operators, Anthony Murgio.Murgio, who was indicted on alleged money laundering charges in July of last year, had sought to dismiss two of the charges against him in part by arguing that bitcoins don't count as "funds" in the context of US law.According to Reuters, Judge Alison Nathan of the Southern District Court of New York rejected that bid, writing that bitcoin is money by virtue of how it is used.Nathan wrote in her ruling: "Bitcoins are funds within the plain meaning of that term.Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account.They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment."The ruling comes on the heels of a court decision in Florida in which a Miami judge ruled that, according to state statutes, bitcoin doesn’t qualify as a form of money.

That decision sparked debate amongst observers and has sparked renewed effort in the state legislature to develop regulations around the digital currency.The Coin.mx case is connected to a broader investigation by the US government into an alleged cybercrime ring tied to a series of hacks on major companies and financial institutions, including Wall Street giant JPMorgan Chase.According to prosecutors, Coin.mx was used as a conduit for laundering proceeds from the purported operation.Attorney Brian Klein, who represents Murgio in the case, told CoinDesk that his client plans to continue fighting the charges."The defense obviously disagrees with the Court’s denial of the motion to dismiss," said Klein."Anthony Murgio maintains his innocence and looks forward to clearing his name at his upcoming trial."Have breaking news or a story tip to send to our journalists?Since bitcoins were first mined and traded, a legal question has lingered about whether the virtual currency is money.A federal judge in Manhattan is the latest to wrestle with the question.

And like a number of her judicial peers, the judge concluded that yes, bitcoins qualify as money, at least under a federal anti-money laundering […] Subscribe or Sign In Popular on WSJ Most Popular Videos Patron CEO on $1 Billion Sale of George Clooney's Tequila Brand Film Clip: 'The Big Sick' 'Bridge Crew': Voice Command Comes to 'Star Trek' VR Videogame Trump Approval Rating Holds Steady Film Clip: 'The Beguiled'Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase & Co and other companies.bitcoin february 2014District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange.eobot bitcoin

Murgio had argued that bitcoin did not qualify as "funds" under the federal law prohibiting the operation of unlicensed money transmitting businesses.But the judge, like her colleague Jed Rakoff in an unrelated 2014 case, said the virtual currency met that definition."Bitcoins are funds within the plain meaning of that term," Nathan wrote."Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account.The decision did not address six other criminal counts that Murgio faces, Nathan wrote.elouera bitcoinBrian Klein, a lawyer for Murgio, said he disagreed with the decision.privatefly bitcoin"Anthony Murgio maintains his innocence and looks forward to clearing his name at his upcoming trial," he added.bitcoin fenoxo

Prosecutors last year charged Murgio over the operation of Coin.mx, and in April charged his father Michael with participating in bribery aimed at supporting it.Authorities have said Coin.mx was owned by Gery Shalon, an Israeli man who, along with two others, was charged with running a sprawling computer hacking and fraud scheme targeting a dozen companies, including JPMorgan, and exposing personal data of more than 100 million people.That alleged scheme generated hundreds of millions of dollars of profit through pumping up stock prices, online casinos, money laundering and other illegal activity, prosecutors have said.bitcoin google playShalon has pleaded not guilty, and is being held at the Metropolitan Correctional Center in Manhattan.He hired new lawyers last month and is seeking permission to replace lawyers who joined the case in June, a Monday court filing showed.The case is U.S.v Murgio et al, U.S.District Court, Southern District of New York, No.

Follow CNBC International on Twitter and Facebook.NEW YORK Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase & Co and other companies.U.S.District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange.Murgio had argued that bitcoin did not qualify as "funds" under the federal law prohibiting the operation of unlicensed money transmitting businesses.But the judge, like her colleague Jed Rakoff in an unrelated 2014 case, said the virtual currency met that definition."Bitcoinsare funds within the plain meaning of that term," Nathan wrote.The decision did not address six other criminal counts that Murgio faces, Nathan wrote.Brian Klein, a lawyer for Murgio, said he disagreed with the decision."Anthony Murgio maintains his innocence and looks forward to clearing his name at his upcoming trial," he added.Prosecutors last year charged Murgio over the operation of Coin.mx, and in April charged his father Michael with participating in bribery aimed at supporting it.Authorities have said Coin.mx was owned by Gery Shalon, an Israeli man who, along with two others, was charged with running a sprawling computer hacking and fraud scheme targeting a dozen companies, including JPMorgan, and exposing personal data of more than 100 million people.