How the market will react. A Chinese court has declared Bitcoin property

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Local holders of cryptocurrency have every right to send or receive digital money

International arbitration court of Shenzhen in the proceedings associated with digital currencies, acknowledged Bitcoin a property. The Agency reported that the ban of the people’s Bank of China to trade with digital money and holding the ICO does not apply to receiving and sending the new asset users.

The court stressed that the country does not have legislation prohibiting the possession of cryptocurrency and transactions. According to the arbitration fee, bitcoin has the attributes of ownership that you can own and control. Coin can provide economic value and various benefits, said the Agency.

The ban on holding ICO and cryptocurrency trading in China was introduced in September 2017. Strict rules do not prevent investors to actively participate in projects for the initial placement of the coins, they use many ways to bypass these rules, such as VPN or over the counter exchanges of tokens.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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