DC Court Rules Alleged Crypto Launderer Dealt In 'Money'

Law360 (July 24, 2020, 6:36 PM EDT) -- A Washington, D.C., district court struck down an Ohio man's attempts to escape charges tied to the alleged darknet cryptocurrency laundering operation he ran, ruling that the more than 350,000 bitcoins he transferred are "money" and subject to federal money transmission laws.

The court dismissed the arguments of Larry Dean Harmon, who sought to evade two of the three counts against him by claiming that "bitcoin is not money" and that his service was not an "unlicensed money transmitting business." Helix, the business Harmon ran, only provided bitcoin "back to the user from whom it was sent," he argued.

But Judge...

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