Amidst growing fear of Bitcoin and other digital currencies being used for illegal purposes, such as money laundering, the Europol has recently set up a group meant to combat the process with the help of bitcoin.

According to recent reports, the launch of the Bitcoin money laundering division by the Europol, as a result of their partnership with the INTERPOL and the Basel Institute of Governance, may actually prove beneficial for the industry.

According to recent reports, a Miami-based judge just ruled that Bitcoin is not actually money, a decision not taken lightly by digital currency fans from all around the world.

The case in question refers to a web designer known by the name of Michell Espinoza, who reportedly laundered and illegally transmitted around $1,500 worth of Bitcoin. Reports indicate that the funds were then sold to undercover detectives who told the web designer that they were to be used to purchase stolen credit card numbers from the internet.