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