China gave cryptocurrency status of “virtual property”

China gave cryptocurrency status of “virtual property”

Although possession of digital currency is now protected by law, a number of measures have been taken to exclude the flagship cryptocurrency, one of which is a complete ban on all initial offers of coins (ICO).

In response to the court’s decision, a People’s Bank of China official told the Chinese daily Global Times:

“Indeed, Bitcoin is a virtual property, but it is not paper money.”

The decision of the court and the explanation of the NBK make it clear that the possession of a cryptocurrency in China is legal.

Read more:

EOS Ecosystem wallet users lose $ 52 million coins Bakkt began to use bitcoin calculations more often, but they didn’t remember about options for a week French court declared bitcoin money National Bank of Egypt Connected to RippleNet Payment Network BitMEX has allocated $ 2.5 million to combat coronavirus Coinbase registered with Japan Virtual Currency Exchange Association In China, a new ransomware virus Ryuk is being distributed China’s investment in blockchain in 2019 decreased by 40% China’s national blockchain platform will add support for EOS network Cryptocurrency world news on 01/13/2020