A high court in China is saying Bitcoin is protected by law and has economic value

A new ruling from the Shanghai High People 's Court in China has given a new spin to the country's tryst with cryptocurrencies. While China 's ouster of crypto miners within its borders, and various other rulings had more or less banned crypto trading and related activities in the country, the Shanghai ruling might come as a point of respite for the community. The ruling in question declared Bitcoin as a virtual asset that is protected by Chinese law, and has economic value . "In the actual trial practice, the People 's Court has formed a unified opinion on the…