China has recently confirmed that the blockchain of Ethereum is the private property of economic interest. This court's decision follows a number of other verdicts on the legal status of digital currency, including bitcoin, by various Chinese courts. Although cryptocurrency is not tradable in China, citizens may keep it and move it as capital.
The Verdict
The People's Court of Shenzhen Futian District in Guangdong Province, China, decided that ether is legitimate property covered under Chinese law, the local press announced last week. This implies that perhaps the Chinese are not barred from owning or distributing cryptocurrency, local journal 8btc explained, adding as per the court ruling: “Crypto properties defined by ETH are of economic worth and can be sold openly”.
