News Snapshot:
The Shanghai People’s High Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. This finding was made in connection with a lawsuit filed in a district court in October 2020 regarding the recovery of a loan of 1 Bitcoin (BTC). The trial court recognized that bitcoin has value, scarcity, and availability, and is therefore subject to property rights and meets the definition of virtual property. According to the Sina website, Shanghai Baoshan District People’s Court ruled in favor of plaintiff Cheng Mou, ordering defendant Shi Moumou to return the Bitcoin....
