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Shenzhen Arbitration Court rules bitcoin should be protected as property

 
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    Shenzhen Arbitration Court rules bitcoin should be protected as property

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    The Shenzhen Court of International Arbitration ruled this week that bitcoin should be legally protected as a property with economic value, even though China’s central bank has banned cryptocurrency trading. Statement of Facts In a case analysis published via WeChat, the court explained its ruling in a recent case involving...
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    China recognizes blockchain evidence, even while expanding cryptocurrency ban

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    Even as China expands its widespread ban on cryptocurrencies, the country is embracing the blockchain technology that powers cryptocurrencies, with the Supreme People’s Court this week recognizing the use of blockchain evidence in legal disputes. Blockchain technology Blockchain technology was invented by Satoshi Nakamoto in 2008 to serve as the...
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    China financial regulators outlaw Initial Coin Offerings (ICOs)

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    Seven (7) financial regulators in China issued a joint statement this week officially banning all Initial Coin Offerings (ICOs) within the People’s Republic of China (PRC). The statement further demands that the proceeds from all past ICOs be refunded to investors or face being “severely punished according to the law.”...
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    Chinese bitcoin exchanges resume withdrawals

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    As reported by Reuters, a long-lasting withdrawal freeze in China’s bitcoin exchange ecosystem is finally being lifted. Withdrawals resume On June 1st, Bitcoin prices rose to USD $2400 on news that three major Chinese exchanges (BTCChina, Huobi and OKCoin) were going to allow customers to withdraw Bitcoin after all, reversing...
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    Unconfirmed reports of new bitcoin regulations incite cryptocurrency price volatility

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    Unconfirmed reports that China may soon implement new legal regulations to restrict domestic bitcoin exchange activities have fueled worldwide bitcoin price volatility. Bloomberg is alleged to have published a report claiming that Chinese officials could soon prohibit domestic bitcoin exchanges from moving certain volumes of bitcoin and other digital currencies...
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    National People’s Congress publishes draft “virtual property” law

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    As reported by financial news portal Hexun, the National People’s Congress (NPC) of China has published a draft civil law code that, if implemented, would provide a legal definition for “virtual property.” Following the NPC’s release of the draft, various sources began speculating that China’s legal definition of “virtual property”...

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