Bitcoin is winning in china

[Sobz]

A court just declared Bitcoin as property with good value. The Chinese government has already banned P2P exchanges, crypto services, and the acceptance of Bitcoin or any other cryptocurrency in businesses, but it is good news for the court to declare Bitcoin as property. I'm quite convinced this is a huge win for Bitcoin enthusiasts in China.

The reason why I conclude this is a win is that since Bitcoin is being declared as property by the court, individuals can invest in Bitcoin without being threatened. This is just the first step towards Bitcoin's success in China; soon the government will accept Bitcoin, which will be open for everybody with no restrictions.

[Bitcoin-Forever]

I saw this thread about the take of Chinese government over bitcoin or any crypto asset https://bitcointalk.org/index.php?topic=5585184.0 but this is coming as a relief to many Chinese citizens to be able to still have something to depend on as a backup to why they should use bitcoin and not see it as illegal the way it was initially painted, we can't predict the use of Bitcoin from China and that is where anyone that will be engaging in cryptocurrency must be very careful on where to appear and how to use it.

[Charles-Tim]

@Sobz
Bitcoin as a property in China is not something new, you can know that from the thread Bitcoin-Forever has posted its link. If something like this happened again, probably it will be on the news again just like this one.

I will also advise you to lock this thread to avoid repetitive posts.

But it is worth knowing that Chinese government are hostile against bitcoin and other cryptocurrencies.

[Agbamoni]

Before the citizens of China take the news to heart, the ban on Bitcoin needs to be lifted legally. This may be a good development, but the existing restrictions will not allow people to fully benefit from owning it as an asset. The legal recognition still has some loopholes due to the lack of freedom to buy and sell without any regulatory obstruction. However, the good news here is that those who already own Bitcoin will be protected by law.