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Bitcoin Charges Called Improper Because Currency Not Real

Two Florida men charged with using the online Bitcoins in an alleged money-laundering scheme did nothing illegal because state law covers only currency issued by the U.S. or another country, their lawyers said.

Pascal Reid, 29, and Michell Abner Espinoza, 30, were charged Feb. 6 with laundering and engaging in an unlicensed money-servicing business in what one prosecutor said may be the first state charges over the use of Bitcoin.