Shanghai Court Upholds Crypto Property Status, Blocks Business Use

Shanghai Court Upholds Crypto Property Status, Blocks Business Use

Shanghai Court’s Landmark Ruling on Cryptocurrency The Shanghai High Court has formally acknowledged cryptocurrencies as property under Chinese law, citing their "property attributes" and affirming their value as virtual commodities. However, the court upheld China's stringent ban on utilizing cryptocurrencies for commercial purposes, including token issuance and speculative trading, according to the ruling. Case Background: Token Dispute ...

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