In a recent ruling on a criminal case over the hacking attacks against JPMorgan Chase & Co and other companies, a federal judge in New York stated that digital currency bitcoin qualifies as money.

Reuters reported that U.S. District Judge Alison Nathan in Manhattan rejected a bid by the operator of unlawful bitcoin exchange Coin.mx Anthony Murgio to dismiss two charges related to his alleged operation of the exchange.

In July 2015, Murgio was indicted on alleged money laundering charges. According to the authorities, Gery Shalon, Coin.mx owner, along with two others, was charged with running a massive computer hacking and fraud scheme targeting several companies, including JPMorgan, and exposing personal data of over 100 million people.

Murgio sought to dismiss two of the charges against him, arguing that bitcoin did not qualify as "funds" under the federal law. The judge, however, said that the virtual currency met that definition, as reported by Reuters.

"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."

Murgio’s lawyer Brian Klein disagreed with the decision and said, "Anthony Murgio maintains his innocence and looks forward to clearing his name at his upcoming trial”.

Shalon is being held at the Metropolitan Correctional Center in Manhattan and has pleaded not guilty. According to a recent court filing, he has hired new lawyers last month and is seeking permission to replace lawyers who joined the case in June.