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Bitcoin receiving approval from French courts! - italkcash news

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Old 09-04-2011, 03:42 PM
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Join Date: Nov 2007
Posts: 493
Default Bitcoin receiving approval from French courts!

After a quick chat with the owner of www.mtgox.com - the largest Bitcoin exchange platform, I learned that he has done something nobody in the Bitcoin industry has ever achieved before him.

[4:30pm]MagicalTux» first, they closed our account a few weeks ago
[4:30pm]MagicalTux» we went to court, won, they re-opened the account
[4:30pm]MagicalTux» but then they appealed and told us they'll close the bank account again
[4:30pm]MagicalTux» they lost their appeal, but closed the account anyway the next day
[4:30pm]MagicalTux» then we brought them again to court, and won again
[4:30pm]MagicalTux» and they re-opened the bank account again
What he means about "they" is the bank that handles transactions in Europe for Mtgox.com The bank being Credit Industriel et Commercial (CIC). The matter was in all three instances decided in the French court of commerce, the Business Tribunal (tribunal de commerce). For anyone speaking French there is a PDF file submitted here. (If anyone cares to translate to English I will be happy to host the file/text).

So what does this mean? Well relatively nothing, but this adds to the credibility of Bitcoin being something completely different than commodity or money, as they are defined as being centrally issued by a national bank.

The court case will be updated on September the 13th as we will hear more news about what the second instance of the French court will define Bitcoin as. We will keep updating this article.
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