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Cryptocurrency Is Virtual Property That Is Protected by Law, Chinese Court Rules NewsExplorer

September 17, 2022
Source: newsexplorer.net newsexplorer.net
News Snapshot:
A Chinese intermediate court based in Beijing recently upheld a lower court’s ruling which determined that cryptocurrency is a virtual property protected by the law. The court clarified that regulations issued by the Bank of China and others only prohibit the circulation of virtual currency. ‘Financing Behaviour Prohibited by the Law’ An intermediate court in China recently upheld a lower court’s ruling that designated litecoin a virtual property protected by the country’s laws, a report has said. The court clarified that the country’s relevant administrative regulations only prohibit the circulation of virtual currency or its use as a currency. The...
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Tags: agreement | bank | Bank of China | Beijing | bitcoin | blockchain | China | Chinese | compensation | court | crypto | cryptocurrency | currency | fintech | IT | law | loan | news | property | report | virtual currency

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