In China, BTC is recognized as virtual property.

In China, bitcoin has been recognized as “virtual property”. This does not mean that trading activity is permitted or simplified; rather, it confirms the right to own an asset.

The Hangzhou online court ruling confirmed Bitcoin’s status as “legal to own” an asset in China, which suggests that its holders will be protected in case of disputes over ownership.

According to Beijing News (translated from Chinese), “Bitcoin has the attributes of ownership. It is valuable, scarce and affordable. Therefore, we must recognize it as virtual property in accordance with the “General Civil Law”. Virtual property is legally protected by the laws of the People’s Republic of China. ”

Today in the Digital Court of Hangzhou, the first case of violation of ownership rights to Bitcoins was considered, as a result of which it was confirmed that the attribute of “virtual property with value” was assigned to Bitcoin.

In China, bitcoin has been recognized as “virtual property”. This does not mean that trading activity is permitted or simplified; rather, it confirms the right to own an asset.

The Hangzhou online court ruling confirmed Bitcoin’s status as “legal to own” an asset in China, which suggests that its holders will be protected in case of disputes over ownership.

According to Beijing News (translated from Chinese), “Bitcoin has the attributes of ownership. It is valuable, scarce and affordable. Therefore, we must recognize it as virtual property in accordance with the “General Civil Law”. Virtual property is legally protected by the laws of the People’s Republic of China. ”

Today in the Digital Court of Hangzhou, the first case of violation of ownership rights to Bitcoins was considered, as a result of which it was confirmed that the attribute of “virtual property with value” was assigned to Bitcoin.

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