Florida lawmakers are set to pass a bill that extends the state ’s money - laundering laws to bitcoin and other cryptocurrencies in an attempt to clamp down on criminal activity . But the currency has also been used for more nefarious reasons. Although the laws would not affect day - to - day users of bitcoin , they could impair trading relations with economically unstable countries such as China . " This legislation makes sure traffickers and criminals can no longer use internet - based currencies to hide and move their ill - gotten gains , " Miami - based State Attorney Katherine Lee Rundle said . Critics said the move was a signal that innovation was unwelcome in Florida .
Florida lawmakers are set to pass a bill that extends the state ’s money - laundering laws to bitcoin and other cryptocurrencies in an attempt to clamp down on criminal activity . Although the laws would not affect day - to - day users of bitcoin , they could impair trading relations with economically unstable countries such as China . " This legislation makes sure traffickers and criminals can no longer use internet - based currencies to hide and move their ill - gotten gains , " Miami - based State Attorney Katherine Lee Rundle said . Critics said the move was a signal that innovation was unwelcome in Florida .