Bitcoin as Money recognized in Florida

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Bitcoin as Money recognized in Florida

Florida Senator wants to regulate bitcoin as money in the U.S.A. state.
Senator Dorothy Hukill, in fact, explained that the draft legislation aims at protecting users and startups.
Earlier this year bitcoin was defined as a property during a criminal case judged in Florida itself.
Now Hukill, Republican senator of Florida and member of the Finance & Tax Committee, commented that legislation details still have to be discussed.
These were her words:
“I think you have to recognize it at some level, so you can legislate and protect your constituents. Then you have to figure out what you recognize it as and how you regulate it.”
While Hukill cannot define an exact date, her office suggested the bill will be submitted to the Florida Senate by the end of 2016.
As the legislative session doesn’t begin until March and with the upcoming elections, bills have to wait until November.
Hukill also explained that she will look for industry stakeholders’ feedback, but that process cannot start if the bill is not well defined.

Bitcoin as Money around the world

California, North Carolina and New Jersey and several other states tried to regulate bitcoin.
“If we can fit it under our current law, where it’s actually money and can be used legitimately so we’re not chasing people away, that’s what we’re looking to do,” explained the senator.
Hukill explained that the bill she proposed is well needed also due to the growing interest in bitcoin, as a few shops in Florida started to accept the digital currency as a method of payment.

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