Bitcoin is Permitted by Law, Chinese Arbitration Court Says70.03

The Shenzhen Court of International Arbitration recently issued a ruling saying there is no prohibition against Bitcoin ownership and transfer in China. The decision means that despite the ban on ICOs and virtual currency trading, Bitcoin and other cryptocurrencies are legally regarded as property in the country.

The court issued the ruling in a case brought before it featuring a dispute over a contract involving the transfer of cryptocurrencies. According to the details of the case, the plaintiff and the defendant entered into an agreement where the latter individual managed a cryptocurrency portfolio on behalf of the former.

Original source
https://bitcoinist.com/bitcoin-permitted-law-china-court/

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