This is a welcome development at a time there are lots of negative media struggling to drag Bitcoin down with FUD. Will this action and support from the court propel Bitcoin to achieving another bull rally? What is your take on this?
No offense, but connect this news with any effect (positive or negative) for Bitcoin is for me personally beyond any common sense. This is an isolated case in a country that still keeps cryptocurrencies on the ice, so one day it allegedly approves them, and the next day it announces bans.
What is most important is the fact that nothing can work in Russia if it is not useful for a political-criminal system that has to control everything. Although we cannot say that the situation is like in China, I would still dare to say that there is a very thin line between the current status of cryptocurrencies and a possible complete ban in the future.
Not so long ago, Chinese courts made positive decisions when it comes to Bitcoin - and where is the country on the crypto map today?
In the ruling of a property dispute case involving Bitcoin on Thursday, the Hangzhou Internet Court recognized that cryptocurrency assets have the attributes of virtual property and should be protected in accordance with Chinese regulations, The Beijing News reported.