Recently, Shanghai court affirms that Bitcoin is virtual property not currency, and it is up to Bitcoin owners to compensate in a case involving an unpaid loan.
https://www.businessinsider.in/inve...d-has-economic-value/articleshow/91514046.cms
Binance Coin & Governmental Law
- Thread starter Andrea
- Start date
If Bitcoin is considered as currency, it may fall under the purview of central banks and be subject to monetary policy regulations. The legal status of Bitcoin and other cryptocurrencies as virtual property or currency may have implications for their adoption, use and value in the future and may vary depending on the specific legal and regulatory framework of each jurisdiction.
It's exciting to see how the legal and regulatory frameworks around cryptocurrencies are evolving. While it may present some challenges, it also opens up opportunities for greater adoption and innovation in the space. Do you think that increased regulation could help to legitimize cryptocurrencies and bring them more into the mainstream?
Regulations can work in favor of cryptocurrency as the cryptocurrency legal status become more concerned in legal systems.