The Shanghai High Court has classified Bitcoin as a virtual asset with legally protected economic value. According to the document published by the court: “Based on established practice, the People’s Court has concluded that Bitcoin meets the attributes of ownership and has a certain economic value. In order to protect it, legal norms should be applied.” The statement relates to a case involving Cheng Mou, who last October 10, 2020 filed a lawsuit with the Baoshan (Shanghai) District People’s Court demanding the return of 1 BTC from the defendant, Shi Moumou. stay up to date on the latest crypto and…
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