Chinese Arbitration Court Recognizes Bitcoin as Property Protected by Law
On October 25, 2018, the Shenzhen Court of International Arbitration (the “SCIA”) published a case analysis detailing its decision on a business contract dispute involving the possession and transfer of cryptocurrencies. The arbitral panel found that although Bitcoin does not have the legal status equal to currency and should not be utilized as a currency in the market, this does not prevent Bitcoin from being protected by Chinese law as property with economic value.
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