A district court in China has reportedly ruled that Ethereum’s cryptocurrency is legal property with economic value. This ruling follows a couple of other verdicts on the legality of cryptocurrency, including bitcoin, by various Chinese courts. While cryptocurrency is not legal tender in China, people can hold and transfer them like property.

Court Ruling: ETH Is Legal Property in China

The Shenzhen Futian District People’s Court in Guangdong Province, China, has ruled that ether is legal property, protected by Chinese law, local media reported last week. This means that the Chinese are not barred from owning or transferring the cryptocurrency, local publication 8btc explained, adding that according to the court ruling:

The crypto assets represented by ETH have economic value and can be traded publicly.

Chinese Court Declares Ethereum Legal Property With Economic Value
A district court in Shenzhen, China, has ruled in a cryptocurrency theft case that ether is legal property with economic value.

Details of the Cryptocurrency Theft Case

The theft case involved a blockchain engineer, known by the…

Click to continue reading on its source location…

Source: https://news.bitcoin.com/chinese-court-ethereum-legal/