News Snapshot:
China’s controversial cryptocurrency landscape has taken a new twist after the Shanghai High People’s Court ruled that Bitcoin has a ‘certain economic value’ and is a virtual asset protected by the country’s laws. In a notice posted by the court on messaging platform, WeChat, Bitcoin has some economic value and harbours the relevant property attributes, Bitcoin.com reports . The ruling is monumental considering that China has banned cryptocurrencies like Bitcoin, citing a threat to the country’s financial sector stability. “In actual trial practice, the People’s Court has formed a unified opinion on the legal position of bitcoin, and identified it...
