Shanghai Court Distinguishes Bitcoin as Legitimate Digital Currency, Despite China's Crypto Trading Ban

A Shanghai court recognizes Bitcoin as a unique digital currency, distinguishing it from virtual currencies like Q coins.
The court cites Bitcoin's rarity, global acceptance, and inherent monetary qualities.
This acknowledgement contrasts China's typical classification of cryptocurrencies as speculative investments.
The court suggests Bitcoin can be considered personal property when disputes of theft or ownership arise.
This does not represent an official policy shift, as China's ban on crypto trading remains in place.

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Posted 9/25/2023, 8:27:22 PM