Florida lawmakers are set to pass a bill that extends the state’s money-laundering legislation 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 Venezuela. The bill, which is expected to be signed into law by Gov. Rick Scott (R), was introduced last week after it passed its first committee but has yet to make it out for a vote. This legislation makes sure traffickers and fraudsters can no longer use internet-based currencies to hide and move their ill-gotten gains," Miami-Dade State Attorney Katherine Fernandez Rundle said. Critics said the move sent a signal that innovation was unwelcome in Florida.
Florida lawmakers are set to pass a bill that extends the state’s money-laundering legislation 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 Venezuela. "This legislation makes sure traffickers and fraudsters can no longer use internet-based currencies to hide and move their ill-gotten gains," Miami-Dade State Attorney Katherine Fernandez Rundle said. Critics said the move sent a signal that innovation was unwelcome in Florida.