A Chinese court is not prohibited from owning bitcoin


A Chinese court is not prohibited from owning bitcoin

South China branch of China international economic and trade arbitration Commission in Shenzhen in the case of cryptocurrency held that the PRC laws do not prohibit you to hold bitcoins. It is reported by the traditional news provider of China cnLedger, citing local sources.

1/ Chinese court confirms Bitcoin is protected by law. Shenzhen Court of International Arbitration ruled a case involving cryptos. Inside the verdict: CN law does not forbid owning & transferring bitcoin, which should be protected by law bc its property nature and economic value.

— cnLedger (@cnLedger) October 26, 2018

Also, according to representatives of the arbitration Commission, the residents have the right to send/receive bitcoins, and the protection of these rights the state must provide, as the first cryptocurrency has economic value and has the properties of ownership.

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