A US District Court judge in Manhattan has ruled has ruled that bitcoin qualifies as money, Reuters reports. The ruling came in the trial of Anthony Murgio, who is accused of operating an unlicensed bitcoin exchange, coin.mx. Murgio argued that bitcoin did not qualify as "funds" under a federal law prohibiting the operation of unlicensed money transmitting businesses. The judge said the virtual currency met the definition in the law. "Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They function as pecuniary resources," Judge Alison Nathan said in her ruling.