Fun

News Feed - 2023-09-26 08:09:11

Prashant Jha12 hours agoBitcoin gains legal recognition as digital currency in Shanghai, ChinaA similar report from another Chinese court in September recognized cryptocurrencies as virtual properties protected by law.7553 Total views196 Total sharesListen to article 0:00NewsJoin us on social networksThe Shanghai No.2 Intermediate People’s Court in China has reportedly recognized Bitcoin (BTC) as a unique and non-replicable digital asset while acknowledging its scarcity and inherent value.


The Chinese court released a report on Sept. 25 discussing the development of internet technologies. The report stated that with the development of internet technology, digital currencies such as Bitcoin stand out as unique and non-replicable. The report states that among a sea of digital currencies, Bitcoin is different and unique from other digital assets.


The report also sheds light on some of the unique properties of Bitcoin, including its scarcity and property attributes. The report states that Bitcoin has key currency features such as scalability, ease of circulation, storage and payment. Bitcoin continues to see global usage despite its decentralized nature and lack of central authority administration.


The latest judicial report acknowledging Bitcoin and its attributes as an asset class gives Bitcoin and other digital currencies in China more legitimacy. Despite a blanket ban on cryptocurrencies in China, legal arguments for defining bitcoins as personal property have gained a lot of traction from the local Chinese courts.


The latest recognition from one of the key courts in Shanghai comes despite the hostile attitude of the Chinese government toward Bitcoin. China imposed a blanket ban on all forms of cryptocurrency activities, including Bitcoin mining, in 2021. However, several courts in China have recognized Bitcoin and other digital assets as legal properties protected by law.


Related:China announces plans for new national financial regulator


As Cointelegraph reported on Sept. 1, a People’s Court in China released a report assessing the legality of virtual assets and analyzing the criminal law attributes of these assets. The report observed that digital assets qualify as legal property and thus are protected by the law.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:DeFi faces stress test, DoJ fears run on Binance, Hong Kong’s crypto trading: Hodler’s Digest, July 30–Aug. 5# Bitcoin# China# Bitcoin Regulation# Bitcoin Mining# RegulationAdd reactionAdd reactionRead moreWhat is profit and loss (PnL) and how to calculate itHow to buy Bitcoin in DubaiHow are crypto firms responding to US regulators’ enforcement actions?

News Feed

Savannah Fortis12 hours agoThe EU’s AI regulations sparked a letter signed by 160 tech execsAs the EU works on its upcoming AI bill, executives from 160 companies in the industry drafted an open letter on the implicati
Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange
Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange press release PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital
Andrew Singer10 hours agoBlockchain technology lets East African farmers sell globallyBlockchains’ tracing capacities can help certify that crops weren’t grown by razing woodlands or harvested with child labor.1057 T
Robert Kiyosaki Warns US Dollar ‘About to Implode’ — Advises Buying Bitcoin, Ethereum, Solana
Robert Kiyosaki Warns US Dollar "About to Implode" — Advises Buying Bitcoin, Ethereum, Solana The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has w
US State Regulator Warns About Crypto Interest-Bearing Accounts Amid Market Downturn
US State Regulator Warns About Crypto Interest-Bearing Accounts Amid Market Downturn The financial regulator of the U.S. state of Arizona has warned investors about crypto interest
Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn’t Moved in a Year
Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn"t Moved in a YearAccording to the creator of the analytical bitcoin data web portal, Look Into Bitcoin, a chart often r
Bloodbath Incoming? Dogecoin Must Hold This Level To Survive
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Groq AI's LPU: The breakthrough answer to ChatGPT's GPU woes?
Savannah Fortis13 hours agoGroq AI"s LPU: The breakthrough answer to ChatGPT"s GPU woes?Groq"s LPU chip emerges as a potential solution to the challenges faced by AI developers relying on GPUs, sparking comparisons with
Bitcoin pre-halving correction narrative strengthens as BTC falls below $62K
Martin Young4 hours agoBitcoin pre-halving correction narrative strengthens as BTC falls below $62K“Everyone who wanted to buy into the halving mostly has,” said Capriole Fund founder Charles Edwards.7890 Total views
Turner Wright8 hours agoJudges weigh early release for Sam Bankman-Fried as lawyers push First Amendment issues: ReportA panel of three judges at the 2nd U.S. Circuit Court of Appeals in New York reportedly will consider
State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs
State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs The Agricultural Bank of China (ABC), one of China’s “big four” ba
Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain
Chinese State-Run Media Believe BTC Price Surge Is Just ‘Hype’ While Praising Blockchain Two Chinese state-run media outlets have published a brief news item