Bitcoin Is Now Seen As ‘Virtual Property’ Under Chinese Law

July 20, 2019 by cryptobreak

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Beijing News is reporting that the Hangzhou Internet Court has recognized Bitcoin and other cryptocurrencies as ‘virtual property’ and should be protected under Chinese law.

The Hangzhou Internet Court has settled the legal question regarding Bitcoin in China by deeming it a ‘virtual property.’ Bitcoin has long been in legal limbo in China despite hosting some of the largest mining operations anywhere in the world. Now, we finally have some clarity on where regulation is heading.

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