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(Kitco News) - The regulatory landscape in China just got a little more complicated as a Chinese court has ruled that citizens can still trade cryptos despite the country’s ban on digital asset services and cryptocurrency trading.
According to a recent ruling from the Beijing Number One Intermediate People’s Court, investors are allowed to trade cryptocurrencies but indicated that they should be treated as virtual assets instead of currencies.
The ruling arose from a case involving a crypto loan that was made using Litecoin (LTC) back in 2015. Zhai Wenjie indicated that he loaned his friend Ding Hao 50,000 Litecoin with the agreement that Hao would pay 1,000 LTC in monthly interest.
According to the court, since Litecoin is not issued by a monetary authority and lacks backing from legal and financial...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...