[2018-10-31]China Ready for Cryptos, Circulation & Transaction of Bitcoin is Leg

[Vladdirescu87]

Last week, a court in China said that merchants in the nation weren’t prohibited from accepting Bitcoin (BTC) as a payment method. In the same case, nationals have been granted permission to hold and transact with cryptos as a legal form of property.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/china-ready-for-cryptos/

[CryptoBry]

Had this news (I am assuming this must be true and not another fake news) happened last year than it could be making some big waves in the movement and value of Bitcoin but now the market has already ignored China which is quite better in my opinion. However, this can have a long-term positive repercussions on Bitcoin in general as we know that China is the largest market for Bitcoin and cryptocurrency and is exerting a major force even until now (though this force has gone underground for the time being afraid of the governmental reach). Will it mean that eventually Bitcoin is winning even in this government-controlled economy of China? I hope so...

[Harlot]

Another worthless news created by a second hand news source. For people who really fact finds the news the already know by now that China isn't really a strict country when it comes to cryptocurrency. The only one creating the wrong impression is because of these kinds of news sources creating junk content. This is just a minor court ruling with precedent but it didn't stop their local businesses on accepting cryptos as mode of payment in their country, the court maybe just proceeded with the sessions in order of formality.

[Rahar02]

Another worthless news created by a second hand news source.
For people who really fact finds the news the already know by now that China isn't really a strict country when it comes to cryptocurrency.
The only one creating the wrong impression is because of these kinds of news sources creating junk content.
This is just a minor court ruling with precedent but it didn't stop their local businesses on accepting cryptos as mode of payment in their country, the court maybe just proceeded with the sessions in order of formality.

Did you read the news? I can see contradictory on your statement.
Judge it as worthless and junk content but stated China isn't a strict country regarding cryptocurrency and local businesses still accepting crypto as a payment method.
That exactly the article mentioned about merchants in China can legitimately accept digital currency as a method of payment according to a report by CnLedger.
"The Shenzhen Court of International Arbitration legally deemed Bitcoin (BTC) as property, permitting users and businesses to own and transfer BTC without being in conflict with extant financial regulations."
Well, doesn't mean PBOC will just accept it as they want to strengthen regulatory supervision towards digital currency, only time will tell, let's see what will happen later.

[fisheater]

Lol they go back and forth. They used to have the biggest exchange and miners, but government banned exchanges. Now they try to come back to it.

[Harlot]

Did you read the news? I can see contradictory on your statement.
Judge it as worthless and junk content but stated China isn't a strict country regarding cryptocurrency and local businesses still accepting crypto as a payment method.
That exactly the article mentioned about merchants in China can legitimately accept digital currency as a method of payment according to a report by CnLedger.
"The Shenzhen Court of International Arbitration legally deemed Bitcoin (BTC) as property, permitting users and businesses to own and transfer BTC without being in conflict with extant financial regulations."
Well, doesn't mean PBOC will just accept it as they want to strengthen regulatory supervision towards digital currency, only time will tell, let's see what will happen later.

Yes I did read the news and I was referring to them giving the wrong impression by giving us misleading and recycled news for a long time now. They created dozens of articles saying how strict China is when it comes to cryptocurrencies making a lot of people believe that China is not a crypto-friendly country, but the truth is they are the ones who are taking advantage of both cryptos and blockchain in their economy. Like what I said this court ruling will give a precedent in future court decisions as well as clarifying the misconception that cryptocurrencies is an illegal payment method in their country.

[LeGaulois]

It's a good clarification from China for all the FUD we have been reading around. If the Fud was able to make a red market, I hope such clarification will make a green one. It can take time since people are brainwashed with media... The govt. surely knows all money it can take from behind.

[Slow death]

I read this news and I confess that I do not understand, Is of the knowledge of all people that china banned the exchange

Despite Ban, China Keeps Trading Cryptocurrency Thanks to Tether and VPNs, Says Report

China Prohibits Crypto-Related Promotion in Beijing’s Chaoyang District

China: After Banning Exchanges, Authorities Move To Close ‘Exchange-Like Services’

China Will Heavily Crack Down on All Bitcoin Trades

how the judge considered Legal?

[KryptoKai]

Shenzen has been made a special economic zone in China because it is next to hongkong. This has made it a valuable area in China for wholesalers or regular goods. If bitcoin is allowed there for payments it is a major step forwards for bitcoin