Roughly two months ago, a Miami-Dade judge ruled that bitcoin does not actually qualify as money. Now, it appears that bitcoin does indeed qualify as money, according to U.S. District Judge Alison Nathan in Manhattan. "Bitcoins are funds within the plain meaning of that term," Nathan wrote. "Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment." Reuters provides some backstory in its report: Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase and Co and other companies. U.S. District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged operation of Coin.mx, which prosecutors have called an unlicensed bitcoin exchange. Murgio had argued that bitcoin did not qualify as "funds" under the federal law prohibiting the operation of unlicensed money transmitting businesses. But the judge, like her colleague Jed Rakoff in an unrelated 2014 case, said the virtual currency met that definition. Authorities have said Coin.mx was owned by Gery Shalon, an Israeli man who, along with two others, was charged with running a sprawling computer hacking and fraud scheme targeting a dozen companies, including JPMorgan, and exposing personal data of more than 100 million people. That alleged scheme generated hundreds of millions of dollars of profit through pumping up stock prices, online casinos, money laundering and other illegal activity, prosecutors have said.

A total of three men are said to be operators of file-sharing site KickassTorrents (KAT), according to U.S. prosecutors. Last month, federal authorities arrested the 30-year-old Ukrainian mastermind of KAT, Artem Vaulin, and formally charged him with one count of conspiracy to commit criminal copyright infringement, one count of conspiracy to commit money laundering, and two counts of criminal copyright infringement. Two other Ukrainians were named in the new indictment (PDF): Levgen (Eugene) Kutsenko and Oleksander (Alex) Radostin. While only Vaulin has been arrested, bench warrants have been issue for the arrest of all three men. Ars Technica reports: "Prosecutors say the three men developed and maintained the site together and used it to 'generate millions of dollars from the unlawful distribution of copyright-protected media, including movies, [...] television shows, music, video games, computer software, and electronic books.' They gave out 'Reputation' and 'User Achievement' awards to users who uploaded the most popular files, including a special award for users who had uploaded more than 1,000 torrents. The indictment presents a selection of the evidence that the government intends to use to convict the men, and it isn't just simple downloads of the copyrighted movies. The government combed through Vaulin's e-mails and traced the bitcoins that were given to him via a 'donation' button."

An anonymous reader writes: Following initial news of the project in March, IBM, under the supervision of the Linux Foundation and in partnership with several major tech interests including Fujitsu, has announced today that it will lead development of a new blockchain — a financial transaction ledger fashioned after the Bitcoin model. Provisionally called Open Ledger, the new initiative is aimed specifically at financial transactions, and though it will be open source in terms of development, but 'semi-private' in operation. Those with an interest in the project are said to include JP Morgan, Wells Fargo and the Bank of England. IBM VP Jerry Cuomo, who has discussed the project with Fortune and Wired, commented "The current blockchain is a great design pattern...Now, how do we make that real for business? What are the key attributes needed to make that happen? That's what this organization is about."

theodp writes: In August, Federal Judge Ellen Huvelle called BS on 'emergency' changes made by the U.S. Dept. of Homeland Security in 2008 to Optional Practical Training (OPT) that extended the amount of time foreign STEM graduates of U.S. colleges could stay in the country and work ("to alleviate the crisis employers are facing due to the current H-1B visa shortage," as Bill Gates explained it in 2007). "The 17-month duration of the STEM extension appears to have been adopted directly from the unanimous suggestions by Microsoft and similar industry groups," said the Judge in her ruling, which threatened to invalidate STEM OPT extensions in February. But the DHS fired back Monday with a new proposed rule — Improving and Expanding Training Opportunities for F-1 Nonimmigrant Students With STEM Degrees and Cap-Gap Relief for All Eligible F-1 Students — that will extend STEM OPT to as much as 60 months (a standard 12-month OPT period, plus two 24-month extensions). Foreign students demand it, explained the DHS, as do public colleges and universities, who "particularly benefit from the payment of tuition by foreign students, especially in comparison to the tuition paid by in-state students." DHS estimates that the proposed rule will affect 634,464 foreign STEM students over the next 10 years.

An anonymous reader writes: Most of us are looking forward to the advent of autonomous vehicles. Not only will they free up a lot of time previously spent staring at the bumper of the car in front of you, they'll also presumably make commuting a lot safer. While that's great news for the 30,000+ people who die in traffic accidents every year in the U.S. alone, it may not be great news for insurance companies. Granted, they'll have to pay out a lot less money with the lower number of claims, but premiums will necessarily drop as well and the overall amount of money within the car insurance system will dwindle.

Analysts are warning these companies that their business is going to shrink. It will be interesting to see if they adapt to the change, or cling desperately to an outdated business model like the entertainment industry did. "One opportunity for the industry could be selling more coverage to carmakers and other companies developing the automated features for cars. ... When the technology fails, manufacturers could get stuck with big liabilities that they will want to cover by buying more insurance. There's also a potential for cars to get hacked as they become more networked."

Julie188 writes: As you probably heard by now, Linux company Mandriva has finally, officially gone out of business. The CEO has opened up, telling his side of the story. He blames employee lawsuits after a layoff in 2013, the French labor laws and the courts. "Those court decisions forced the company to announce bankruptcy," he said.

Tekla Perry writes: The golden age of engineers is not over,' says a French software engineer who developed a tool for mining U.S. Department of Labor visa application data, but, he says, salaries appear to be leveling off. Indeed, salary inflation for software engineers and other technical professionals at Google and Facebook has slowed dramatically, according to his database, and Airbnb and Dropbox pay is down a little, though Netflix pay is through the roof. The data also shows that some large companies appear to be playing games with titles to deflate salaries, and Microsoft is finally offering technology professionals comparable salaries to Apple and Google. There's a lot more to be discovered in this interactive database, and researchers are getting ready to mine it.

mpicpp writes with word that Charter Communications has struck a $56 billion deal to buy Time Warner Cable; if the deal goes through (which the article says is likely, according to Macquarie Research analyst Amy Yong -- at least more likely than the recently scotched Comcast-Time Warner deal), it would mean that the second- and third-largest U.S. cable companies would share a letterhead, and more than 20 percent of the country's ISP market. From the linked Reuters article: The Federal Communications Commission immediately served notice that it would closely scrutinize the deal, focusing not only on absence of harm but benefits to the public. Charter, in which Malone-chaired Liberty Broadband Corp owns about 26 percent, is offering about $195.71 in cash-and-stock for each Time Warner Cable share, based on Charter's closing price on May 20. Including debt, the deal values Time Warner Cable at $78.7 billion. A key area of regulatory concern would be competition in broadband Internet.

An anonymous reader writes: Open bank data will give us the freedom to access all banks in real time and from a single view, automatically calculating the best deals in complete transparency, which will be a significant step forward for social good and give people more control over their finances. Meanwhile, financial tech incubators, accelerators, and startups are creating a more experienced talent pool of developers ready to act upon these newly available assets. From the article: "The United Kingdom government has commissioned a study of the feasibility of UK banks giving customers the ability to share their transactional data with third parties via an open standard API. First mentioned alongside the autumn statement back in December, the chancellor has now outlined plans for a mandatory open banking API standard during the recent budget in March."

A reader sends news that Los Angeles Unified School District is asking Apple for a refund of the district's effort to equip students with iPads. The project was budgeted at around $1.3 billion to equip its 650,000 students, though only about 120,000 iPads have been purchased so far. After the program went bad, the FBI launched an investigation into their procurement practices. The iPads weren't standalone education devices — they were supposed to work in conjunction with another device carrying curriculum from a company named Pearson. But the district now says the combined tech didn't meet their needs, and they want their money back. Lawyers for the local Board of Education are looking into litigation options. They've also notified Apple and Pearson they won't pay for any new products or services.

gthuang88 writes: With everyone from PayPal merchants to Rand Paul starting to accept Bitcoins as payment, the race is on to develop technical standards for the virtual currency. Now MIT Media Lab director Joi Ito is getting ready to unveil a plan for MIT to become an independent, neutral home for standards development. Ito is enlisting cryptographer Ron Rivest and economist Simon Johnson to help with the effort, which could provide an academic alternative to the Bitcoin Foundation for conversations about the currency's future. Ito says, "I’m not pushing it, but I’m offering MIT as a neutral academic home for some of the conversations and the technical coordination. Which I think will give a lot more stability to Bitcoin, which right now is a little bit fragile."

Mark Wilson writes "Earlier in the month it was reveal that Apple was about to start offering gift cards as part of a trade-in program for people buying new a new iPhone. The updated program has now gone live so you can take your old Apple device, or non-Apple smartphone to an Apple store, or mail it in to receive credit. The credit can be used in store or online against the purchase of a new Apple device, and this program expansion is the latest move from Apple to try to tempt users away from other platforms. You can check online to see how much you can expect to receive for your existing phone and decide whether it's worth your while. Hint: it might not be.