{"id":61371,"date":"2022-05-12T17:48:25","date_gmt":"2022-05-12T14:48:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61371"},"modified":"2025-09-05T11:46:28","modified_gmt":"2025-09-05T08:46:28","slug":"shanghai-court-recognises-bitcoin-as-property-protected-by-law","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/shanghai-court-recognises-bitcoin-as-property-protected-by-law\/","title":{"rendered":"Shanghai court recognises Bitcoin as property protected by law"},"content":{"rendered":"<p>The High Court of Shanghai <a href=\"https:\/\/mp.weixin.qq.com\/s?__biz=MzA3MjcxNDM5OQ%3D%3D&#038;mid=2650675244&#038;idx=1&#038;sn=14200856a402700c8796b0d5ad9a80b9&#038;scene=45#wechat_redirect\">\u043a\u043b\u0430\u0441\u0441\u0438\u0444\u0438\u0446\u0438\u0440\u043e\u0432\u0430\u043b<\/a> Bitcoin as a virtual asset with economic value that is protected by law.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abRelying on established practice, the People\u2019s Court has recognised that Bitcoin meets the attributes of property and possesses a certain economic value. For its protection, legal norms must be applied\u00bb<\/em>, the document states.<\/p>\n<\/blockquote>\n<p>The statement concerns a case involving Chen Mou, who on 10 October 2020 filed a suit in Shanghai&#8217;s Baoshan District People\u2019s Court against the defendant Shi Moumou seeking the return of 1 BTC.<\/p>\n<p>After the proceedings on 23 February 2021, the court ordered the defendant to return the coin within ten days of the judgment. However, she refused to make the payment, prompting the plaintiff to pursue enforcement through the courts. Subsequently, the Baoshan Court arranged mediation between the two sides.<\/p>\n<p>Liu Yan, an expert at Beijing\u2019s Deheng Law Firm, told Bitcoin.com that the High Court&#8217;s declaration would be used as a precedent in civil disputes related to Bitcoin.<\/p>\n<p>As reported in September 2021, the People\u2019s Bank of China, together with nine state bodies, published a statement classifying cryptocurrency operations as illegal financial activity.<\/p>\n<p>In 2019, a similar status of virtual property was conferred on Bitcoin by the Hangzhou city court.<\/p>\n<p> Subscribe to ForkLog News on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The High Court of Shanghai classified Bitcoin as a virtual asset with economic value protected by law.<\/p>\n","protected":false},"author":1,"featured_media":61372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133],"class_list":["post-61371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=61371"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61371\/revisions"}],"predecessor-version":[{"id":61373,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61371\/revisions\/61373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61372"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}