Bitcoin is now a Legalized Asset in China - SCIA

[avikz]

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.

Bitcoin (BTC) is now recognized as a legal asset to be owned, transferred and utilized as a medium of payment for goods and services in China as decreed by the Shenzhen Court of International Arbitration. The same court ordered Bitcoin ban in 2017. The Shenzen Court of International Arbitration was quoted as saying;

“Chinese court confirms Bitcoin is protected by law. Shenzhen Court of International Arbitration ruled a case involving cryptos. Inside the verdict: CN law does not forbid owning & transferring bitcoin, which should be protected by law because of its property nature and economic value.”

News source: https://www.btcnn.com/china-lifts-bitcoin-ban-individuals-and-businesses-can-now-own-cryptocurrencies-legally/

Excited to see the next bull run??

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[BuyBuyBitcoin]

This is OLD news that people are spreading with their own meaning because they want bitcoin to be unbanned in China.

Stop it.

2/ BTW IN CASE THERE IS ANY CONFUSION ON THE LEGAL IMPLICATIONS: arbitrators do **NOT** make laws. So please do not interpret this one arbitration decision as an official legal rule change. But this is still important. Read on for the arbitrator’s rationale..

https://twitter.com/katherineykwu/status/1055638520440766471?s=19

Can we not have a long thread about something that is just spreading more fake news?

[carrymehome]

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.

Bitcoin (BTC) is now recognized as a legal asset to be owned, transferred and utilized as a medium of payment for goods and services in China as decreed by the Shenzhen Court of International Arbitration. The same court ordered Bitcoin ban in 2017. The Shenzen Court of International Arbitration was quoted as saying;

“Chinese court confirms Bitcoin is protected by law. Shenzhen Court of International Arbitration ruled a case involving cryptos. Inside the verdict: CN law does not forbid owning & transferring bitcoin, which should be protected by law because of its property nature and economic value.”

News source: https://www.btcnn.com/china-lifts-bitcoin-ban-individuals-and-businesses-can-now-own-cryptocurrencies-legally/

Excited to see the next bull run??

In China, the cryptocurrencies actively used in retail?

[sorrysteve1]

This is OLD news that people are spreading with their own meaning because they want bitcoin to be unbanned in China.

Stop it.

2/ BTW IN CASE THERE IS ANY CONFUSION ON THE LEGAL IMPLICATIONS: arbitrators do **NOT** make laws. So please do not interpret this one arbitration decision as an official legal rule change. But this is still important. Read on for the arbitrator’s rationale..

https://twitter.com/katherineykwu/status/1055638520440766471?s=19

Can we not have a long thread about something that is just spreading more fake news?

Hit that nail square, smack bang, center of its head. There should be some sort of rule put in place that you can't publish news without first checking out its source and credibility yourself.

[dewildance]

I know it still banned. They may lift this ban but still not clear. Is that be a rumor? Because someone says China will ban mining also!

[palle11]

This is just straight to it. People are eager to see the crypto ban lifted in China but I get confused about that because the cryptocurrency biz keeps trivialing whether or not China is in it or not.

[talkbitcoin]

I know it still banned. They may lift this ban but still not clear. Is that be a rumor? Because someone says China will ban mining also!

you are only repeating FUDs. bitcoin has never been banned in China and will probably never be banned in China, this includes both trading bitcoin and mining it.
this legalization is some weird news that has been circulating since China legalized bitcoin back in 2012.

[avikz]

I am sorry guys because I didn't know that the news is fake. I have now locked the thread and reported to moderator to remove it to trash! Thank you for coming up with the correct news. Sorry once again!