News Snapshot:
The Shanghai High People’s Court declared that Bitcoin has a “particular economic worth” and is a digital asset safeguarded by Chinese law, adding to the country’s volatile cryptocurrency scene. According to Bitcoin.com, the court stated that BTC really does have some economic worth and possesses the appropriate property features in a notification posted on the WeChat messaging app. Given that China has prohibited cryptocurrencies like Bitcoin, alleging a threat to the country’s financial sector stability, the decision is significant. Bitcoin legal status According to the ruling, In actual trial practice, the People’s Court reached a consensus on BTC’s legal status,...
