Coastal Bitcoin

Washington State Recognizes Bitcoin as Money

From Reddit/rBitcoin  by user FliedenRailway

Washington State Recognizes Bitcoin

There are many different digital currencies being used over the internet, the most commonly known being Bitcoin. In Washington, digital currency is included in the definition of “Money” in the Uniform Money Services Act (UMSA), chapter 19.230 RCW

Washington State Government Page on Money Transmitters and Currency Exchangers: http://www.dfi.wa.gov/cs/money-services-providers.htm

This is pretty big news in the world of Bitcoin. This is the type of legal framework that other states will base there regulations on regarding Bitcoin. User FliedenRailway suggests this government action could be the result of people applying for a money transmitter license to put a Bitcion ATM somewhere in Washington. Any recognition of Bitcoin by a state agency as being a valid form of money is ultimately a positive thing for Bitcoin.

Coastal Bitcoin

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