“A Manhattan-based federal judge ruled on Monday (PDF) that a man accused of running an illegal Bitcoin exchange website could not have two charges of running an unlicensed money transfer business dropped because Bitcoin is money.” Ars Technica writes.
Source: Ars Technica
Cryptocurrencies are a completely new set of idea. Society has not yet grasped clearly the meaning of it and it is still considered pretty much like some kind of weird money with a hidden agenda. Although I think there is a definite need for virtual currency I’m afraid it will need the “formal” approval of the global financial ecosystem before it can take root.
Probably a current exchange combined with blockchain technology for super fast, reliable and secure transfer might do the trick a lot quicker. I would not be surprised if eventually Bitcoin stayed more in the shady tunnels of the dark web than in the purse of the everyday person.