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Federal District Court Holds Bitcoin is Money, SEC Can Pursue Bitcoin-Based Securities Charges

BuckleySandler's InfoBytes Blog

On August 6, the U.S. District Court for the Eastern District of Texas held that the court has subject matter jurisdiction over the SEC’s claims that a Texas man and his company defrauded investors in a Ponzi scheme involving Bitcoin. SEC v. Shavers, No. 13-416, 2013 WL 4028182 (E.D. Tex. Aug. 6, 2013).